$MDB 24h fell 21.47%. In just 1 hour, trading value was 20.49 times the 24-hour average, and open interest value surged 254.85% in 1 hour to 784.9k—this looks like heavy-volume dumping where someone is still taking bids!
Price slid from 340.61 to 324.36; over the last 15 minutes it rebounded 2.83%. But the active buy/sell ratio was 0.906, and the last 15 minutes’ figure was 0.779—sell orders are still being filled. Funding rate was -0.435%: shorts are paying longs, and on the short side they’re getting squeezed. Adding positions with heavy volume is bearish; the read is that fresh shorts are pressing down while there’s support below.
Invalidation condition: if it reclaims 340.61 and open-interest value turns to decrease, this weak read is void. Only if it breaks below 301 can we talk about further weakness.
#MDB
Price slid from 340.61 to 324.36; over the last 15 minutes it rebounded 2.83%. But the active buy/sell ratio was 0.906, and the last 15 minutes’ figure was 0.779—sell orders are still being filled. Funding rate was -0.435%: shorts are paying longs, and on the short side they’re getting squeezed. Adding positions with heavy volume is bearish; the read is that fresh shorts are pressing down while there’s support below.
Invalidation condition: if it reclaims 340.61 and open-interest value turns to decrease, this weak read is void. Only if it breaks below 301 can we talk about further weakness.
#MDB
