$CAP 0,0745 — the 4H candle just broke above the narrow range of 0.0713–0.0735 (held for 20 hours), closed at 0.0772, then pulled back to 0.0745, still 27% below the 0.1016 peak on the evening of 10/6.
24-hour volume was $56 million, far below $182 million on 10/6 and $92 million on 10/7. Open interest rose 14% in 24 hours ($13.6M → $15.5M), with 53% of accounts currently long.
Concern: in July, the project cut the airdrop reward from $12 million to $4.2 million after funding fell short, triggering community backlash (The Defiant, 7/13).
12H is down, 3D is still unclear. The indicators are not yet aligned.
Main view: stay out. Reassess when the 4H candle closes outside 0.0713–0.0781.
It broke up to 0.0772 then pulled back to 0.0745 — is this the start of a rebound, or just a sweep above the range before returning?
Personal observation, not financial advice. Risk 1%, always use a stop.
#CAP $CAP