ACE is now 0.186u. Yesterday it even touched 0.226—one ultra-long upper wick smashed the price back from the highs by almost 18%. Judging by the K-line alone, this coin looks like it’s done. But the contract market clearly doesn’t think so: the open interest surged 46.6% day over day, and all these new positions have been built up over the past few days.
Most striking is the funding rate: the last eight intervals have all been negative, with an average of -0.52%. Instead of closing out, the shorts keep paying at this price level. Spot large orders have net inflows of 1.3 million over nearly five periods. The spot leverage long/short ratio flipped over more than double within 12 hours. Whale accounts are 57% long—after the dump, retail traders were scared into turning bearish, but the money didn’t leave; it just switched sides.
Weak price action but strong positioning—this is classic short-fuel. Price is hovering just above the 24-hour low at 0.184. The four-hour structure is a pullback and bounce. As long as this level isn’t broken, crowded shorts covering will provide ready buy-side support. The first target is around 0.19.
Go long, stop loss at 0.1835. If 0.184 is broken through, it means the OI surge is coming from brand-new short entries rather than short covering; that flips the view bearish, and the next stop is 0.158.
#ace $ACE
Most striking is the funding rate: the last eight intervals have all been negative, with an average of -0.52%. Instead of closing out, the shorts keep paying at this price level. Spot large orders have net inflows of 1.3 million over nearly five periods. The spot leverage long/short ratio flipped over more than double within 12 hours. Whale accounts are 57% long—after the dump, retail traders were scared into turning bearish, but the money didn’t leave; it just switched sides.
Weak price action but strong positioning—this is classic short-fuel. Price is hovering just above the 24-hour low at 0.184. The four-hour structure is a pullback and bounce. As long as this level isn’t broken, crowded shorts covering will provide ready buy-side support. The first target is around 0.19.
Go long, stop loss at 0.1835. If 0.184 is broken through, it means the OI surge is coming from brand-new short entries rather than short covering; that flips the view bearish, and the next stop is 0.158.
#ace $ACE
