$CLO 24-hour trading volume was 6.78 million, down 12.48%, with the price falling from 0.1387 to 0.11626, and no decent rebound in between. This bearish candle completely swallowed the gains of the past three days.
First, look at the funding rate: funding rate +0.0050%, within the normal range, which means this decline was not the result of shorts actively increasing leverage, but more like a passive selloff triggered by long stop-losses. Long positions with cost bases above 0.135 were liquidated one after another, with concentrated liquidations at 0.125 and 0.118.
The key numbers are embedded in the sentence: resistance at 0.1387 (today's high), stop-loss placed below 0.1080 (give up if it breaks on volume), first see whether 0.135 can be recovered, then aim for 0.142. Losing 5 points to gain 15-20 points of room is worth it.
Watch the volume when the next four-hour candle closes. If trading volume continues to shrink below 5 million, it means the selling momentum is fading, and the odds of a rebound are high.
$CLO
#CLO
First, look at the funding rate: funding rate +0.0050%, within the normal range, which means this decline was not the result of shorts actively increasing leverage, but more like a passive selloff triggered by long stop-losses. Long positions with cost bases above 0.135 were liquidated one after another, with concentrated liquidations at 0.125 and 0.118.
The key numbers are embedded in the sentence: resistance at 0.1387 (today's high), stop-loss placed below 0.1080 (give up if it breaks on volume), first see whether 0.135 can be recovered, then aim for 0.142. Losing 5 points to gain 15-20 points of room is worth it.
Watch the volume when the next four-hour candle closes. If trading volume continues to shrink below 5 million, it means the selling momentum is fading, and the odds of a rebound are high.
$CLO
#CLO