View on the market’s fluctuation $VTHO along with pressure from short-term indicators
Short-term selling pressure remains clearly present as all RSI indicators are in deeply oversold territory across multiple timeframes. Market $VTHO is currently trading at 0.000703 after a -9.99% drop within the day.
On the 15-minute timeframe, the RSI indicator for $VTHO is at 19.5 with a trading volume of 0.17x, indicating that sell pressure is quite dominant. The 1-hour timeframe shows price has broken the nearest support and is trading below the short-term EMA, while the long/short account ratio at 0.5773 reflects the majority’s sentiment strongly leaning toward selling. OI data is slightly increasing together with a funding rate of 0.0043%, suggesting that open positions are still maintaining pressure around the low-price zone.
If $VTHO holds above 0.000688 and breaks through the resistance level of 0.000709 with improved volume, the price may see a short-term technical rebound. If selling pressure continues to remain strong and the 0.000688 level is breached, $VTHO faces the risk of continuing a deeper bottom-chasing move in the next session.
#VTHO #Crypto
Short-term selling pressure remains clearly present as all RSI indicators are in deeply oversold territory across multiple timeframes. Market $VTHO is currently trading at 0.000703 after a -9.99% drop within the day.
On the 15-minute timeframe, the RSI indicator for $VTHO is at 19.5 with a trading volume of 0.17x, indicating that sell pressure is quite dominant. The 1-hour timeframe shows price has broken the nearest support and is trading below the short-term EMA, while the long/short account ratio at 0.5773 reflects the majority’s sentiment strongly leaning toward selling. OI data is slightly increasing together with a funding rate of 0.0043%, suggesting that open positions are still maintaining pressure around the low-price zone.
If $VTHO holds above 0.000688 and breaks through the resistance level of 0.000709 with improved volume, the price may see a short-term technical rebound. If selling pressure continues to remain strong and the 0.000688 level is breached, $VTHO faces the risk of continuing a deeper bottom-chasing move in the next session.
#VTHO #Crypto
