SAMSUNG is now around 172. In the past 24 hours it has jumped by nearly 8 points. The price has also moved back above the short- and medium-term moving averages. On the 4-hour timeframe the direction is still pushing upward. It’s only one breath away from the 24-hour high at 173.4. The short-term strength is definitely there.
But the issue is the fuel for the rise. In the 24 hours, the contract open interest has decreased by almost two points, and over the last 7 hours it has continued to decline. While the price pushes higher, the open interest is pulling back—that move looks more like short covering lifting it rather than fresh money piling into longs. The funding rate is basically hugging zero, the 8-hour average is still negative, and there hasn’t been the kind of crowded long accumulation you’d expect.
On the order book, the sell orders stacked above are a bit thicker than the buy orders. And over the last few hours, spot large orders have not shown any clear net inflow signals. Whale accounts have a high long proportion, but over the past 7 hours it’s been falling, and only on the positioning side has it just started turning to add/accumulate. Funds are clearly split.
In plain terms: the price is very close to the high point and the trend is favorable, but the relay fuel hasn’t caught up. This kind of rally at a high level is most likely to grind for a while.
So I’m not in a hurry to chase from this position. To the upside, we need to see whether new capital steps in to push through the high. To the downside, if volume can’t keep up, the pullback won’t be very gentle. I’ll wait for a pullback to confirm, or for capital to re-enter, then decide.
#samsung $SAMSUNG
But the issue is the fuel for the rise. In the 24 hours, the contract open interest has decreased by almost two points, and over the last 7 hours it has continued to decline. While the price pushes higher, the open interest is pulling back—that move looks more like short covering lifting it rather than fresh money piling into longs. The funding rate is basically hugging zero, the 8-hour average is still negative, and there hasn’t been the kind of crowded long accumulation you’d expect.
On the order book, the sell orders stacked above are a bit thicker than the buy orders. And over the last few hours, spot large orders have not shown any clear net inflow signals. Whale accounts have a high long proportion, but over the past 7 hours it’s been falling, and only on the positioning side has it just started turning to add/accumulate. Funds are clearly split.
In plain terms: the price is very close to the high point and the trend is favorable, but the relay fuel hasn’t caught up. This kind of rally at a high level is most likely to grind for a while.
So I’m not in a hurry to chase from this position. To the upside, we need to see whether new capital steps in to push through the high. To the downside, if volume can’t keep up, the pullback won’t be very gentle. I’ll wait for a pullback to confirm, or for capital to re-enter, then decide.
#samsung $SAMSUNG