After this surge is over, it will most likely shake a bit.
$2Z rallied 34.52% in 24 hours, but the current funding rate is down at -0.3469%. For shorts, every 100U in position means paying back 1.04 per day. With a rate like this, supporting a one-sided push, the shorts have already been cornered. If they keep holding, their books bleed about 1% per day. Cutting losses and closing just feeds the longs.
Take a quick look at volume and price: turnover increased from near last night’s low to 70.83 million, while price surged straight from 0.05465 to 0.07411. This volume-price alignment is real buying power—not just drawn lines. But the previous high at 0.07898 also reveals overhead sell pressure. The key split between bulls and bears in this round sits between the low at 0.05465 and this other level.
Near-term thinking: stop-loss and hold at 0.0620 (reclaiming and giving back after the prior high means
#2Z
$2Z rallied 34.52% in 24 hours, but the current funding rate is down at -0.3469%. For shorts, every 100U in position means paying back 1.04 per day. With a rate like this, supporting a one-sided push, the shorts have already been cornered. If they keep holding, their books bleed about 1% per day. Cutting losses and closing just feeds the longs.
Take a quick look at volume and price: turnover increased from near last night’s low to 70.83 million, while price surged straight from 0.05465 to 0.07411. This volume-price alignment is real buying power—not just drawn lines. But the previous high at 0.07898 also reveals overhead sell pressure. The key split between bulls and bears in this round sits between the low at 0.05465 and this other level.
Near-term thinking: stop-loss and hold at 0.0620 (reclaiming and giving back after the prior high means
#2Z