$USELESS Cut one line and cut 28%, trading volume 349 million USD, dumped right at the 0.236 level.
Price falls on increased volume. The intraday high-low spread falls 0.33 to 0.217, amplitude 54%, turnover 1.26 billion shares. This suggests panic sellers are actively distributing rather than catching.
The funding rate is +0.005%, essentially zero. The longs aren’t propping it up, and the shorts aren’t adding aggressively—this is pure liquidity liquidation.
On the downside, watch 0.217, today’s intraday low. If it breaks, it may run toward 0.19 to find support. On the upside, resistance is at 0.28; only if it holds above that can it catch its breath. Set the stop loss at 0.215—if it breaks, don’t get stuck fighting.
This isn’t the time to bottom-fish. Wait and see where the next four-hour candle closes.
#USELESS
Price falls on increased volume. The intraday high-low spread falls 0.33 to 0.217, amplitude 54%, turnover 1.26 billion shares. This suggests panic sellers are actively distributing rather than catching.
The funding rate is +0.005%, essentially zero. The longs aren’t propping it up, and the shorts aren’t adding aggressively—this is pure liquidity liquidation.
On the downside, watch 0.217, today’s intraday low. If it breaks, it may run toward 0.19 to find support. On the upside, resistance is at 0.28; only if it holds above that can it catch its breath. Set the stop loss at 0.215—if it breaks, don’t get stuck fighting.
This isn’t the time to bottom-fish. Wait and see where the next four-hour candle closes.
#USELESS