KORU is now around 19u. After yesterday’s big bearish candle crashed everything, it popped from 16.7 to 20.4, then fell back to 19—it's stabilized, but the direction hasn’t been decided yet.
What looks good: my position shrank by nearly 20% in a day. That liquidation wave with cascading leverage mostly washed out the floating supply, fees are effectively zero, and the longs aren’t crowding in anymore. The spot order book shows bid orders that are more than three times the size of the asks. There’s support under 19, and the spread is thin, almost right at your fingertips.
The problem is that capital hasn’t come back. Aggressive buying only accounts for about 45%, and within seven hours sellers cut nearly 30%. The rebound to 20.4 didn’t have enough volume to continue, so it was pulled right back to 19. Although the whales are still somewhat bullish, their positions are quietly being reduced. With three-times-leveraged holdings, if there’s no capital to take over, it just stalls in place and goes nowhere.
In plain terms: washing the market clean is a good thing, but once it’s cleaned out, there’s nobody to raise the baton. So rebounds keep turning into hesitation. There is support at the low level—chasing higher prices is not backed by funds.
From here, I won’t chase, and I’m not in a rush to short either. I’m waiting for two things: either the aggressive buy volume returns with an expansion in volume, or price taps the 19 support again on reduced volume and holds. Once the capital chooses a direction, I’ll follow.
#koru $KORU
What looks good: my position shrank by nearly 20% in a day. That liquidation wave with cascading leverage mostly washed out the floating supply, fees are effectively zero, and the longs aren’t crowding in anymore. The spot order book shows bid orders that are more than three times the size of the asks. There’s support under 19, and the spread is thin, almost right at your fingertips.
The problem is that capital hasn’t come back. Aggressive buying only accounts for about 45%, and within seven hours sellers cut nearly 30%. The rebound to 20.4 didn’t have enough volume to continue, so it was pulled right back to 19. Although the whales are still somewhat bullish, their positions are quietly being reduced. With three-times-leveraged holdings, if there’s no capital to take over, it just stalls in place and goes nowhere.
In plain terms: washing the market clean is a good thing, but once it’s cleaned out, there’s nobody to raise the baton. So rebounds keep turning into hesitation. There is support at the low level—chasing higher prices is not backed by funds.
From here, I won’t chase, and I’m not in a rush to short either. I’m waiting for two things: either the aggressive buy volume returns with an expansion in volume, or price taps the 19 support again on reduced volume and holds. Once the capital chooses a direction, I’ll follow.
#koru $KORU