I’m watching the alert on KMNO. In the past 24h it’s up +5.8%, and in the last 1h it jumped +6.5%. In the last 5m it’s still up +1.8%, with volume at 5.9x. The volume and price are moving in sync, and the funds are indeed doing their job—but the issue isn’t there.

Watch the positioning. The current price is 0.02982; the 24h high is 0.02984—basically trading right along the ceiling, only 0.07% below the high and 12.17% above the low. The MA7/MA25/MA99 moving averages are in a bullish alignment, and the structure is fine. But RSI has hit 100—this isn’t “strong”; this is severe short-term overheating, and it could pull back at any moment.

On this contract side, things are actually calm. The fee rate is 0.0050%, with long/short balance; open interest has only moved +0.54%, basically no fresh money is coming in to open positions. With the price being pushed this hard but OI staying flat, this looks more like spot or a push driven by news rather than leverage funds lifting the price. Whether it can sustain is worth questioning.

News flow: Kamino and Galaxy are doing institution-level lending vault schemes, and Binance Wallet pulled in 50 million in deposits. The theme looks decent, but the chart has already pumped first, as a gesture of respect.

Trading idea: chasing at the current price is like catching a thrown knife. Enter when RSI is at the 100 level—it’s a bad risk/reward setup. If you want to participate, wait for a pullback. 0.02907 (MA7) is the first buy zone, and 0.0282 (MA25) is a more comfortable spot to pick up. Resistance is around 0.02984; only count it as a real breakout if it can stand above with volume. The signal itself also says the direction accuracy is only 44%, so don’t bet on one-way moves.

Don’t chase the high. Wait for a confirmed pullback before taking action.

Quick data snapshot: current price 0.02982 | 24h +5.80% | volume ratio 5.9 | RSI 100 | fee rate 0.0050%

— 00:20 Chart notes