Do you think $MTL only fell hard? Take another look at this long lower wick.
In the last 24 hours: -24.51%, with $49.59M in sell volume knocking it down, yet the funding rate is -0.1091%—a deeply negative value. With a drop this sharp, shorts are still paying longs for their positions. That suggests spot is getting dumped, while on the derivatives side, the longs are the ones trapped and don’t want to leave. The fuel for the selloff isn’t leveraged liquidation—it’s spot moving real, hard cash.
Your stop-loss is set above today’s high at 0.4006. If it breaks below, then it’s not a shakeout—it’s first about whether the 0.292 low can hold. If it stabilizes, aim for 0.340 first; then, if volume expands and it breaks above 0.400, that becomes the new structure.
Open your account and calculate it yourself: if shorts have to pay a 0.33% fee per day just to keep their positions open, do you have enough courage to place a short stop-loss at this level?
#MTL
In the last 24 hours: -24.51%, with $49.59M in sell volume knocking it down, yet the funding rate is -0.1091%—a deeply negative value. With a drop this sharp, shorts are still paying longs for their positions. That suggests spot is getting dumped, while on the derivatives side, the longs are the ones trapped and don’t want to leave. The fuel for the selloff isn’t leveraged liquidation—it’s spot moving real, hard cash.
Your stop-loss is set above today’s high at 0.4006. If it breaks below, then it’s not a shakeout—it’s first about whether the 0.292 low can hold. If it stabilizes, aim for 0.340 first; then, if volume expands and it breaks above 0.400, that becomes the new structure.
Open your account and calculate it yourself: if shorts have to pay a 0.33% fee per day just to keep their positions open, do you have enough courage to place a short stop-loss at this level?
#MTL