$SAMSUNG Now around 200U, I’m not planning to chase much from this level.
Today’s rally was actually decent—up more than 4% over 24 hours, and over the last four hours it surged from around 190 to above 205. But the issue is also that rally—after pushing up, it started pulling back. Price is now down about 1% or so below the 20-day moving average, and the short-term momentum is visibly weakening.
What’s even more worth watching is the derivatives side. While price is retracing, open interest over the past seven hours has actually increased by more than 7%. This combination—price falling but positioning increasing—suggests someone is shorting right into this level, and it also indicates that the longs who chased higher earlier are getting trapped and haven’t exited. Funding rates have also lifted from around the average of 0.017% to 0.077%. The longs are essentially holding the positions while paying rent, and their costs keep rising.
Spot hasn’t really provided much support either. The order book shows bids are slightly thinner than asks, and the whale account’s long ratio has fallen another 5% over the past seven hours. Big-money moves look relatively cautious.
So my stance is very straightforward: chasing longs from this level has mediocre risk-reward. It’s already had a run, short-term conditions are weakening, and the long side on the perp market is crowded. Entering now is likely just to lift the boat for someone else. I’ll wait for the pullback to stabilize, for trading activity to pick up again, or simply wait until the direction is clear. The trend hasn’t broken, but right now isn’t a comfortable entry point.
#samsung $SAMSUNG
Today’s rally was actually decent—up more than 4% over 24 hours, and over the last four hours it surged from around 190 to above 205. But the issue is also that rally—after pushing up, it started pulling back. Price is now down about 1% or so below the 20-day moving average, and the short-term momentum is visibly weakening.
What’s even more worth watching is the derivatives side. While price is retracing, open interest over the past seven hours has actually increased by more than 7%. This combination—price falling but positioning increasing—suggests someone is shorting right into this level, and it also indicates that the longs who chased higher earlier are getting trapped and haven’t exited. Funding rates have also lifted from around the average of 0.017% to 0.077%. The longs are essentially holding the positions while paying rent, and their costs keep rising.
Spot hasn’t really provided much support either. The order book shows bids are slightly thinner than asks, and the whale account’s long ratio has fallen another 5% over the past seven hours. Big-money moves look relatively cautious.
So my stance is very straightforward: chasing longs from this level has mediocre risk-reward. It’s already had a run, short-term conditions are weakening, and the long side on the perp market is crowded. Entering now is likely just to lift the boat for someone else. I’ll wait for the pullback to stabilize, for trading activity to pick up again, or simply wait until the direction is clear. The trend hasn’t broken, but right now isn’t a comfortable entry point.
#samsung $SAMSUNG