$HIVE This long bearish candle wasn’t dumped by retail traders—it’s the funding rate forcing shorts to cover.
In 24 hours, price was smashed from 0.05172 to 0.04461, a drop of -12.3%, but the funding rate hit -0.6379%—short positions end up paying nearly 100% per year. They can’t hold.
With a $12.49 million trading volume, around 0.044 there was clearly support absorbing the sell orders—it’s not a vacuum zone.
Key levels, one more time: 0.0446 is today’s low and also the long-side line in the sand. If it breaks, look for 0.040; above, 0.0478–0.0483 is the first hurdle on the rebound—only after clearing it is there a chance to test the 0.0517 prior high.
If the odds aren’t favorable, don’t harden and carry—stop-loss is below 0.040. If you’re wrong, you only lose this much room.
Let’s see whether tonight it can hold sideways above 0.045 and close the line, grinding down this big bearish candle. If it can’t hold and breaks 0.044, don’t rush to bottom-fish ⚡
#HIVE
In 24 hours, price was smashed from 0.05172 to 0.04461, a drop of -12.3%, but the funding rate hit -0.6379%—short positions end up paying nearly 100% per year. They can’t hold.
With a $12.49 million trading volume, around 0.044 there was clearly support absorbing the sell orders—it’s not a vacuum zone.
Key levels, one more time: 0.0446 is today’s low and also the long-side line in the sand. If it breaks, look for 0.040; above, 0.0478–0.0483 is the first hurdle on the rebound—only after clearing it is there a chance to test the 0.0517 prior high.
If the odds aren’t favorable, don’t harden and carry—stop-loss is below 0.040. If you’re wrong, you only lose this much room.
Let’s see whether tonight it can hold sideways above 0.045 and close the line, grinding down this big bearish candle. If it can’t hold and breaks 0.044, don’t rush to bottom-fish ⚡
#HIVE