Greetings to you, dear friends.

Today I want to break down $TAKE specifically based on the chart, without trying to guess the direction from a single candle.

OVERTAKE develops an ecosystem for digital gaming assets: the project connects Web2 and the Web3 economy, and $TAKE is its native utility and governance token. Currently, TAKE is available via Binance Alpha, but it is not a standard spot listing on Binance. (Overtake)

Now to the chart itself.

On 1D it’s easy to see how sharply the market changed. Before the move, price had been around 0,05 USDT for a long time, then an enormous green candle appeared with a high around 0,166 USDT. Now the price is around 0,0955.

So the market has already given back a significant part of the impulse. At the same time, price is still above SAR 0,0518 and Supertrend 0,0727, but below AVL 0,1414.

Explained in simple terms: after the strong spike, price hasn’t yet returned to the starting zone, but it also hasn’t been able to establish itself above the entire area formed by the impulse.

Especially telling is the volume. On the daily chart, about 4,44B TAKE traded, or roughly 627M USDT. OBV also jumped sharply. This confirms that the move was accompanied by a very large number of trades, not that it happened in an empty market.

On 4H the picture becomes clearer. After the high at 0,21470, the price dropped sharply and is now around 0,0955.

Here AVL 0,0944 practically matches the current price, and SAR 0,0786 is below. So the zone around 0,0944 is now clearly visible on the chart as the place where price is trying to stop the decline.

Above the nearest level is around 0,1142. Even higher at 0,1640, and Supertrend is at 0,1735.

On 15M you can already see not the direction of the entire move, but what is happening right now. Price around 0,0954, AVL 0,0952, SAR 0,0887, Supertrend 0,1085.

After the strong drop, the candles became small, and volumes noticeably decreased. This means the initial impulse is over and the market has moved into a waiting phase. For now, price is almost sitting on AVL rather than continuing to fall sharply.

Now the most interesting part starts in the futures data.

Open interest during the drop decreased noticeably: from about 84,6M down to 83,8M TAKE, after which it recovered back to 84,6M.

So during the sell-off, some of the futures positions were closed. Then interest in the contract returned. But for now, OI has only recovered back to its previous range, so you can’t say that a strong new trend has appeared based on this indicator alone.

Trader positioning is also interesting.

By the number of accounts among top traders: 62,24% long versus 37,76% short.

But by position size the picture is much calmer: 53,14% long versus 46,86% short.

This means a simple thing: there are indeed more long accounts, but in terms of capital volume the market is almost balanced.

On the taker trades chart, it’s also visible that after the huge burst of selling around 00:25, buyers started to appear again. But there’s still no clear sustained advantage for buyers: green and red volumes continue to alternate.

After the sharp drop into the negative zone, the Basis also recovered to almost zero and again became slightly positive. And funding is currently +0,01299%, although before that it had crashed significantly below zero.

So the futures market, after the sharp imbalance, is returning to a more normal state.

There’s another date I would keep an eye on: on September 25, OVERTAKE should unlock about 19,4M TAKE. That’s roughly 1,9% of the total supply and 5,6% of the current market cap. (Tokenomics.com)

And here’s what I see on the chart right now.

$TAKE is not in a clean uptrend and is not in a clean downtrend.

After the huge impulse, the market stopped around 0,095 USDT. On the short timeframe, price is holding above AVL and SAR, but Supertrend remains above. On 4H, price also holds AVL, but it is far below Supertrend.

Therefore, the chart is very specifically readable right now:

0,0944–0,0952 — current equilibrium zone.
0,1038–0,1085 — the first area that buyers need to reclaim.
0,1142 — the next level.
Below 0,0887 and 0,0786.

What interests me here is not the fact of the huge candle itself.

Something else is much more interesting: after this candle, the price stalled around 0,095, volumes dropped sharply, OI recovered, and traders’ positions remain close to balance by volume.

That’s exactly what the OVERTAKE chart is showing right now.