$RAY This rebound has spot support behind it, but the futures haven’t surrendered yet. I’m slightly bullish and just observing—I won’t chase 1.30. From 11:00 for a full hour, it moved from 1.228 to 1.289; spot volume was about $910,000, roughly 1.8 times the average of the prior three hours. The Raydium main pool price is also basically aligned with Binance, so it’s not a single fake wick.
The dispute is here: the longs say it’s breakouts passing the baton, while the shorts say it’s just a cover after a drop. Over the past 8 hours, OI has actually decreased by 2.8%; the 4-hour funding rate is still -0.0472%. Price is up, OI is down, and funding is negative—this looks more like spot buying stacked with short covering, not a forceful push by leveraged longs. The upside is that the shorts are still there; the downside is that without new position “relay,” it’s easy to spike up and then roll over.
I only look at three doors: a 15-minute candle with increased volume that closes above 1.300—only then is the rebound “kept alive.” A pullback to 1.245—1.255 on reduced volume, if it holds—that’s worth watching. If the 1-hour closes below 1.220, then this round of short covering is over. #RAY #Raydium #空头回补 #热点币
The dispute is here: the longs say it’s breakouts passing the baton, while the shorts say it’s just a cover after a drop. Over the past 8 hours, OI has actually decreased by 2.8%; the 4-hour funding rate is still -0.0472%. Price is up, OI is down, and funding is negative—this looks more like spot buying stacked with short covering, not a forceful push by leveraged longs. The upside is that the shorts are still there; the downside is that without new position “relay,” it’s easy to spike up and then roll over.
I only look at three doors: a 15-minute candle with increased volume that closes above 1.300—only then is the rebound “kept alive.” A pullback to 1.245—1.255 on reduced volume, if it holds—that’s worth watching. If the 1-hour closes below 1.220, then this round of short covering is over. #RAY #Raydium #空头回补 #热点币
