It’s all about this level at 34.4—tonight, will the bulls dare to step in and take it?
Today, $DEXE printed this bullish candle: it rose from 31.15 to 42.48, up 24 hours by +19.28%, ranking 5th on the price-movement anomaly list. On the surface it looks like the main players are replenishing inventory and that the order book is solid—but what you really should be watching isn’t this bullish candle. It’s the fact that in the afternoon, HexTrust transferred tokens worth $4.22 million to Lbank. At the same time, it also opened 12 new wallets to run small-size sell orders as tests. The remaining holdings are still $15.59 million. This isn’t some “strategic repositioning”—this is the standard process of distributing and selling in batches.
Right now, the global long/short ratio is 0.42, with short accounts clearly in the lead. The funding rate is -0.2025%, meaning shorts are paying the funding to longs. But the price didn’t drop—instead, it surged 19 points. What does that imply? It suggests the bulls are forcefully catching someone’s supply. But whose is it that they’re catching? Think about it carefully.
What’s hardest for the bulls now is this: the price has gone up, yet on-chain sell pressure hasn’t dispersed. Meanwhile, the open position size actually shrank by 17.8%, and capital is withdrawing. Chasing longs fears getting bag-held; not chasing fears missing the breakout and getting left behind. Shorts aren’t doing great either—the funding cost is on them, and the price is being held up by that bullish candle. Now it comes down to whether 34.4—the previous resistance zone—can be pushed back down.
Structurally, from the drop at 48 to the correction at 31, the profit-taking supply had pretty much been cleared, but new capital didn’t dare to enter aggressively. Today’s bullish candle did come with increased volume, but the sell pressure is also being sent to exchanges in parallel. Both sides are betting—betting on who will break first.
Whether 34.4 can hold will determine whether this rebound is a shakeout or a bull-trap.
$DEXE
#多空博弈 #异动
Today, $DEXE printed this bullish candle: it rose from 31.15 to 42.48, up 24 hours by +19.28%, ranking 5th on the price-movement anomaly list. On the surface it looks like the main players are replenishing inventory and that the order book is solid—but what you really should be watching isn’t this bullish candle. It’s the fact that in the afternoon, HexTrust transferred tokens worth $4.22 million to Lbank. At the same time, it also opened 12 new wallets to run small-size sell orders as tests. The remaining holdings are still $15.59 million. This isn’t some “strategic repositioning”—this is the standard process of distributing and selling in batches.
Right now, the global long/short ratio is 0.42, with short accounts clearly in the lead. The funding rate is -0.2025%, meaning shorts are paying the funding to longs. But the price didn’t drop—instead, it surged 19 points. What does that imply? It suggests the bulls are forcefully catching someone’s supply. But whose is it that they’re catching? Think about it carefully.
What’s hardest for the bulls now is this: the price has gone up, yet on-chain sell pressure hasn’t dispersed. Meanwhile, the open position size actually shrank by 17.8%, and capital is withdrawing. Chasing longs fears getting bag-held; not chasing fears missing the breakout and getting left behind. Shorts aren’t doing great either—the funding cost is on them, and the price is being held up by that bullish candle. Now it comes down to whether 34.4—the previous resistance zone—can be pushed back down.
Structurally, from the drop at 48 to the correction at 31, the profit-taking supply had pretty much been cleared, but new capital didn’t dare to enter aggressively. Today’s bullish candle did come with increased volume, but the sell pressure is also being sent to exchanges in parallel. Both sides are betting—betting on who will break first.
Whether 34.4 can hold will determine whether this rebound is a shakeout or a bull-trap.
$DEXE
#多空博弈 #异动