Up 23%, but the long/short ratio tells you one thing: the shorts haven’t been knocked out.
Today, $MAGMA pushed out a fairly large bullish candle: the low was 0.33, the high touched 0.436, and the range was nearly 30%. Trading volume also picked up—an order flow of about $110 million—making it one of the more active moves recently.
But one number made me look twice—the short ratio is 54%, while the long side is only 46%.
When the market surges, it usually tilts heavily toward the longs, but here the shorts still make up the majority. What does that mean?
Some people are still holding short positions even after such a big rise. Either they’re trapped and haven’t gotten out yet, or they believe this rally won’t hold and are waiting for a pullback.
Looking at the candlesticks again: over the past 8 hours, the overall trend has been stronger. Price climbed steadily from 0.389 upward—the pace is fairly stable, and it doesn’t feel like there was a vertical spike and then an immediate crash.
The funding rate is 0.03%, which is fairly normal, and the longs don’t look overly excited.
So here’s the tug-of-war worth watching: longs are pushing the price up steadily, while shorts are holding up against pressure. Whichever side can’t hold out first will determine the direction.
If the shorts start cutting losses and exiting, price could accelerate upward. Conversely, if the longs lose momentum, then the 54% shorts will be the source of pressure.
At this level, I won’t chase, but I will watch how that short-ratio number changes.
$MAGMA #空多博弈 #23% Big rally, but shorts still dominate
Click the small card below to quickly check the行情👇
Today, $MAGMA pushed out a fairly large bullish candle: the low was 0.33, the high touched 0.436, and the range was nearly 30%. Trading volume also picked up—an order flow of about $110 million—making it one of the more active moves recently.
But one number made me look twice—the short ratio is 54%, while the long side is only 46%.
When the market surges, it usually tilts heavily toward the longs, but here the shorts still make up the majority. What does that mean?
Some people are still holding short positions even after such a big rise. Either they’re trapped and haven’t gotten out yet, or they believe this rally won’t hold and are waiting for a pullback.
Looking at the candlesticks again: over the past 8 hours, the overall trend has been stronger. Price climbed steadily from 0.389 upward—the pace is fairly stable, and it doesn’t feel like there was a vertical spike and then an immediate crash.
The funding rate is 0.03%, which is fairly normal, and the longs don’t look overly excited.
So here’s the tug-of-war worth watching: longs are pushing the price up steadily, while shorts are holding up against pressure. Whichever side can’t hold out first will determine the direction.
If the shorts start cutting losses and exiting, price could accelerate upward. Conversely, if the longs lose momentum, then the 54% shorts will be the source of pressure.
At this level, I won’t chase, but I will watch how that short-ratio number changes.
$MAGMA #空多博弈 #23% Big rally, but shorts still dominate
Click the small card below to quickly check the行情👇
