$FIGHT 24 hours surged 38%, but turnover was 70.4 billion shares with a 34M turnover value—average price stayed below 0.0049. This indicates that most switching/trading activity is concentrated on the low end chasing higher prices, not distributing at the high end 🚨
In terms of volume-price structure: the price rose from 0.003518 to 0.005555, and the pullback held above 0.0045 without breaking it. Funding rates skyrocketed to +0.0770%, with an annualized holding cost of 132%—the longs are desperately paying to maintain their positions, while the shorts don’t have a chance to fight back for now.
If going long: stop loss at 0.0039 (a break means this move was a bull trap). First aim to break through the resistance at 0.0056 (the prior high pressure), then look to 0.0064. If going short: if you can’t get to 0.0064 and the level gets rejected, don’t expect anything below it. As long as 0.0045 holds, there’s still momentum to push higher.
Run these numbers through your head once: 0.0039 / 0.0045 / 0.0056 / 0.0064—where the price goes, where the stop is, where the target is. After that, you’ll know whether this trade is worth taking your shot at.
#FIGHT
In terms of volume-price structure: the price rose from 0.003518 to 0.005555, and the pullback held above 0.0045 without breaking it. Funding rates skyrocketed to +0.0770%, with an annualized holding cost of 132%—the longs are desperately paying to maintain their positions, while the shorts don’t have a chance to fight back for now.
If going long: stop loss at 0.0039 (a break means this move was a bull trap). First aim to break through the resistance at 0.0056 (the prior high pressure), then look to 0.0064. If going short: if you can’t get to 0.0064 and the level gets rejected, don’t expect anything below it. As long as 0.0045 holds, there’s still momentum to push higher.
Run these numbers through your head once: 0.0039 / 0.0045 / 0.0056 / 0.0064—where the price goes, where the stop is, where the target is. After that, you’ll know whether this trade is worth taking your shot at.
#FIGHT