$SUSHI I am leaning bearish. Below 0.25, don’t rush to treat the pullback as an opportunity. It just dropped quickly from the 0.2725 high to 0.2442, and the 0.2392 low has already disrupted the short-term rebound rhythm; before it reclaims 0.25, any bounce looks more like pressure relief than the start of a new rally.
This was not a low-volume spike: that 15-minute selloff saw about 3.06 million USDT in futures trading volume; the previous full 1-hour candle opened at 0.2673, dipped to 0.2511, closed at 0.2538, with about 10.17 million USDT in volume. Spot also moved in sync, closing from 0.2572 to 0.2443, so the two markets are following the same path.
The funding rate is about -0.014%, but Binance’s public large-account long/short ratio is still 1.46, so long accounts are not scarce. The data do not support blindly buying the dip. I will only watch for strength again if the 15-minute chart reclaims 0.2570 with volume; if the 1-hour chart closes below 0.2392, the bearish view remains valid. #SUSHI #SushiSwap #DeFi #contractwatch
This was not a low-volume spike: that 15-minute selloff saw about 3.06 million USDT in futures trading volume; the previous full 1-hour candle opened at 0.2673, dipped to 0.2511, closed at 0.2538, with about 10.17 million USDT in volume. Spot also moved in sync, closing from 0.2572 to 0.2443, so the two markets are following the same path.
The funding rate is about -0.014%, but Binance’s public large-account long/short ratio is still 1.46, so long accounts are not scarce. The data do not support blindly buying the dip. I will only watch for strength again if the 15-minute chart reclaims 0.2570 with volume; if the 1-hour chart closes below 0.2392, the bearish view remains valid. #SUSHI #SushiSwap #DeFi #contractwatch