ON This drop is really brutal—within 24 hours it already fell 12.37%. The current price is 0.3285. It has already broken below the lower band and has been grinding underneath it. The three Bollinger lines are all being pushed down together, and the bandwidth is actually widening further. The whole pattern looks weak, set up for further downside.
The funding rate is still positive, at +0.0050%. The long positions’ cost basis is relatively high, but the open interest side doesn’t look good. In the past 24 hours, OI shrank by 11.6%, and the contract funding is moving out—open interest is dropping rapidly. Across the whole market, the long-to-short account ratio is 0.65, with short-side accounts clearly in control; their numbers are pressing down on the other side.
The short-term timeframe isn’t resting either—on the 15-minute chart it dropped another 1.5%. Trading volume expanded to 2.5 times the recent average. Liquidity suddenly surged in. Price is basically running right at the bottom. %B is already negative, at -0.16, and it’s almost staying under the lower band.
Right now it’s shorts hammering the market, funds withdrawing, and volume still expanding. The tape is weak—the price is sticking tightly to the lower band and grinding.
For reference only and does not constitute investment advice.
#ON #点金Midas
The funding rate is still positive, at +0.0050%. The long positions’ cost basis is relatively high, but the open interest side doesn’t look good. In the past 24 hours, OI shrank by 11.6%, and the contract funding is moving out—open interest is dropping rapidly. Across the whole market, the long-to-short account ratio is 0.65, with short-side accounts clearly in control; their numbers are pressing down on the other side.
The short-term timeframe isn’t resting either—on the 15-minute chart it dropped another 1.5%. Trading volume expanded to 2.5 times the recent average. Liquidity suddenly surged in. Price is basically running right at the bottom. %B is already negative, at -0.16, and it’s almost staying under the lower band.
Right now it’s shorts hammering the market, funds withdrawing, and volume still expanding. The tape is weak—the price is sticking tightly to the lower band and grinding.
For reference only and does not constitute investment advice.
#ON #点金Midas