USELESS fell -15% in one day, dropping from 0.318 back to 0.224. Open interest shrank by 14%, and the market was instantly shoved into the surrender quadrant—but in these 7 hours, the number of contracts actually rose by 3.5%. Large holders’ long/short position ratio was lifted to 1.18, with nearly 8% added. Out of every 100 accounts, only 37 are bullish, yet 54% of positions are betting long. Retail is pulling back while whales are stepping in; that’s the most glaring contradiction right now.
In a capitulation move, the worst thing is no one stepping in to absorb supply. But above 0.208, there has been real money buying all along, and the price has hovered near today’s low for more than ten hours without breaking. Funding rates have been positive for eight straight intervals, with longs willing to pay to keep holding. That doesn’t look like retreat—it looks like rotation.
So I’m not expecting further downside. I’m going long USELESS directly; above 0.21 is the support zone. The risk is clear too: if it breaks below the 0.208 round level, the support logic is broken, and I’ll exit first rather than hold.
The reversal signal is very clear—if price breaks below 0.208 with volume, while the large holders’ long/short ratio flips bearish, then it’s time for the bears to speak. Until then, I’m long.
#useless $USELESS
In a capitulation move, the worst thing is no one stepping in to absorb supply. But above 0.208, there has been real money buying all along, and the price has hovered near today’s low for more than ten hours without breaking. Funding rates have been positive for eight straight intervals, with longs willing to pay to keep holding. That doesn’t look like retreat—it looks like rotation.
So I’m not expecting further downside. I’m going long USELESS directly; above 0.21 is the support zone. The risk is clear too: if it breaks below the 0.208 round level, the support logic is broken, and I’ll exit first rather than hold.
The reversal signal is very clear—if price breaks below 0.208 with volume, while the large holders’ long/short ratio flips bearish, then it’s time for the bears to speak. Until then, I’m long.
#useless $USELESS
