A 58% surge, but the shorts are still stubbornly holding on—USELESS, this price action is kind of interesting.
Over the past 3 hourly K-lines, they’ve all closed green in a row, with trading volume hitting $364 million,
while the long/short ratio shows that 57% of people are still shorting.
The price has climbed from 0.118 to 0.189,
peaked around 0.206 before dipping slightly, but the buying pressure clearly hasn’t dispersed.
This kind of situation—"rising fast, but there are more short positions"—could mean either it’s the shorts’ final struggle before getting buried,
or that savvy capital is using the rally to distribute shares.
The funding rate is only 0.005,
suggesting longs haven’t gone berserk adding leverage yet, and the move may not be over.
I lean toward watching support around 0.19 a bit more.
If it holds, a push to 0.22 in the next wave isn’t out of the question.
$USELESS #山寨币异动 #58%涨幅
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