$MAGMA: That big wave just now—was it building a position or unloading?
In the past few hours, trading volume was 2.0 times the usual.
Price is 0.3289, up 35.0% in 24 hours.
This kind of volume cannot be generated by retail traders.
Behind it, there must be big money moving.
But what are they doing?
It’s still not clear.
Open interest (OI) has risen 7.9%, and the funding rate is 0.020%.
There are two possibilities.
First:
Big money is building a position—OI rises in sync, and then a directional breakout is likely.
Second:
Big money is unloading—OI falls in sync, and after the volume is digested, the price will actually drop.
So I’m asking myself one question now:
If I were that big money, what would I most want retail traders to do here?
Often, the answer is right there in the order book.
I’m only waiting for two levels:
Break above 0.3420, and trading volume is still there → follow.
Drop below 0.2934, and OI rebounds → short.
Volume moves first—wait for the price to give the answer.
Click the small card below to quickly check the market trend👇
In the past few hours, trading volume was 2.0 times the usual.
Price is 0.3289, up 35.0% in 24 hours.
This kind of volume cannot be generated by retail traders.
Behind it, there must be big money moving.
But what are they doing?
It’s still not clear.
Open interest (OI) has risen 7.9%, and the funding rate is 0.020%.
There are two possibilities.
First:
Big money is building a position—OI rises in sync, and then a directional breakout is likely.
Second:
Big money is unloading—OI falls in sync, and after the volume is digested, the price will actually drop.
So I’m asking myself one question now:
If I were that big money, what would I most want retail traders to do here?
Often, the answer is right there in the order book.
I’m only waiting for two levels:
Break above 0.3420, and trading volume is still there → follow.
Drop below 0.2934, and OI rebounds → short.
Volume moves first—wait for the price to give the answer.
Click the small card below to quickly check the market trend👇