$SPELL funding rate -0.0781%. Shorts are paying money to longs, yet the price is still grinding below the 24h high of 0.0001194!
24h is up 20.191%, latest 0.0001132; the 1-hour trading amount is 2.02x the 24h hourly average. Open interest increased 5.08% to 2.58 million—volume and open interest are rising, and price is heading upward. But the 1-hour aggressive buy/sell ratio is only 1.007; buyers hardly got a bargain. In just 15 minutes, it’s only 1.33. A negative funding rate suggests shorts are overcrowded, but the bid is not fierce. This rally looks more like shorts are paying for the order to be held up.
Hold above 0.0001104 from 1 hour ago, and only when the buy/sell ratio is above 1 can it be considered a real push. If it falls back to that level, this batch of increased positions is essentially chase-buy inventory picked up below 0.0001194.
#SPELL
24h is up 20.191%, latest 0.0001132; the 1-hour trading amount is 2.02x the 24h hourly average. Open interest increased 5.08% to 2.58 million—volume and open interest are rising, and price is heading upward. But the 1-hour aggressive buy/sell ratio is only 1.007; buyers hardly got a bargain. In just 15 minutes, it’s only 1.33. A negative funding rate suggests shorts are overcrowded, but the bid is not fierce. This rally looks more like shorts are paying for the order to be held up.
Hold above 0.0001104 from 1 hour ago, and only when the buy/sell ratio is above 1 can it be considered a real push. If it falls back to that level, this batch of increased positions is essentially chase-buy inventory picked up below 0.0001194.
#SPELL
