DRAM is currently hovering around 60.9u. It’s just a breath away from the 24-hour high of 62.09. Coming up from the 57.4 top, the four-hour trend is still UP, and the price is staying above the 50-day moving average—so the chart hasn’t turned bad.
But I won’t chase at this level. The issue isn’t whether it’s going up, it’s the quality of the rally.
First, look at the futures side: when price pushes higher, open interest actually shrinks over the past seven hours by about 10%. Meanwhile, passive sell pressure is also holding down the bids. To put it plainly, this spike looks more like liquidation and short covering pushing it up—not fresh money piling in.
Funding rate is stalled at 0, so nobody is paying for this premium. The long side isn’t crowded, but there’s also no fuel.
Next, the whales: whale accounts and positions are still tilted long, but over the last seven hours they’ve been reducing positions, and the cut isn’t small. Price is sitting right by the highs while the big players are loosening their grip—this doesn’t look like a signal that they’re ready to push further upward.
As for spot trading: buy orders are pressuring sell orders, so in the short term it probably won’t collapse outright. I’m not bearish—just saying that the risk-reward for taking this as a relay at this spot isn’t great.
Wait for a pullback and see if there’s follow-through (support). Then decide. It’ll feel more comfortable than chasing right now.
#dram $DRAM
But I won’t chase at this level. The issue isn’t whether it’s going up, it’s the quality of the rally.
First, look at the futures side: when price pushes higher, open interest actually shrinks over the past seven hours by about 10%. Meanwhile, passive sell pressure is also holding down the bids. To put it plainly, this spike looks more like liquidation and short covering pushing it up—not fresh money piling in.
Funding rate is stalled at 0, so nobody is paying for this premium. The long side isn’t crowded, but there’s also no fuel.
Next, the whales: whale accounts and positions are still tilted long, but over the last seven hours they’ve been reducing positions, and the cut isn’t small. Price is sitting right by the highs while the big players are loosening their grip—this doesn’t look like a signal that they’re ready to push further upward.
As for spot trading: buy orders are pressuring sell orders, so in the short term it probably won’t collapse outright. I’m not bearish—just saying that the risk-reward for taking this as a relay at this spot isn’t great.
Wait for a pullback and see if there’s follow-through (support). Then decide. It’ll feel more comfortable than chasing right now.
#dram $DRAM