$VELVET from 0.0625 all the way down to 0.0525 in under a day—an almost fourteen-point drop took less than one day. The trading volume was 123 million coins, yet it only returned $6.98 million in liquidity. This suggests there’s plenty of sell pressure but little real quality demand—most likely liquidation stop-loss orders are being traded against each other.
The funding rate is negative at -0.0327%. Shorts get paid every 8 hours; the daily rate is about -0.10% and the annualized figure is nearly -30.1%. Shorting costs are extremely low, yet the price is still falling. That indicates this wave of selling isn’t a short-term contest—it’s more of a passive liquidation/forced exit. 0.0525 is the intraday low. Whether it can hold will determine if the next candle chops sideways or keeps getting dumped. If it breaks, look to 0.0480. Overhead resistance is 0.0570 / 0.0600. On any rebound, let’s see it reach there first.
Stop-loss 0.0518; first watch 0.0570, then test 0.0620. Do these three sets of numbers line up? If they don’t, back to the oven.
#VELVET
The funding rate is negative at -0.0327%. Shorts get paid every 8 hours; the daily rate is about -0.10% and the annualized figure is nearly -30.1%. Shorting costs are extremely low, yet the price is still falling. That indicates this wave of selling isn’t a short-term contest—it’s more of a passive liquidation/forced exit. 0.0525 is the intraday low. Whether it can hold will determine if the next candle chops sideways or keeps getting dumped. If it breaks, look to 0.0480. Overhead resistance is 0.0570 / 0.0600. On any rebound, let’s see it reach there first.
Stop-loss 0.0518; first watch 0.0570, then test 0.0620. Do these three sets of numbers line up? If they don’t, back to the oven.
#VELVET