Heads up, the old coin with ID $KAT is showing some unusual movement! This long position could be a year-long hold!
The price has surged by 15.55% in the last 24 hours, currently sitting at 0.006138, while the funding rate is at -0.2900%. Price is climbing, but the rate is dropping—this divergence indicates that there's still a lot of positions going short against the trend.
The open interest is around 546 million coins, with a 24-hour trading volume of approximately $30.58 million. The volume isn’t crazy, but the open interest is significant. If the price continues to push towards 0.006597, those counter-trend shorts might be forced to cover, providing extra fuel for the bulls.
My target is first set at 0.006597. If we hit that high, this won’t just be a rebound but a breakout driven by strong price action and short covering.
0.005063 is the invalidation point. If we drop below that, it means the bulls couldn’t leverage the funding advantage, and the long logic is over. As long as we hold above it, I won’t join the crowded shorts.
The price has surged by 15.55% in the last 24 hours, currently sitting at 0.006138, while the funding rate is at -0.2900%. Price is climbing, but the rate is dropping—this divergence indicates that there's still a lot of positions going short against the trend.
The open interest is around 546 million coins, with a 24-hour trading volume of approximately $30.58 million. The volume isn’t crazy, but the open interest is significant. If the price continues to push towards 0.006597, those counter-trend shorts might be forced to cover, providing extra fuel for the bulls.
My target is first set at 0.006597. If we hit that high, this won’t just be a rebound but a breakout driven by strong price action and short covering.
0.005063 is the invalidation point. If we drop below that, it means the bulls couldn’t leverage the funding advantage, and the long logic is over. As long as we hold above it, I won’t join the crowded shorts.
