$SOON 24 hours up 33.9%, yet this hour is down 4.2%—the hands that chased higher are starting to loosen!
Current price 0.437, 1 hour ago 0.4561. 24h high 0.4699, low 0.3188. Trading volume 270 million. Over the last 1 hour, the net buy/sell is 0.944; within 15 minutes it returned to 1.023. Open position value is 28.61 million; over 1 hour it decreased by 6.95%. This is the old positions unwinding rather than new shorts piling in to press down; funding rate is 0.031% and longs are still paying.
Selling down as the price falls suggests those leaving are profit-takers rather than new shorts entering. This move looks more like rotation and turnover at elevated levels. Reclaiming the price from 1 hour ago at 0.4561 is what counts as being truly supported; a break below the 24h low of 0.3188 means it's over.
#SOON order book
Current price 0.437, 1 hour ago 0.4561. 24h high 0.4699, low 0.3188. Trading volume 270 million. Over the last 1 hour, the net buy/sell is 0.944; within 15 minutes it returned to 1.023. Open position value is 28.61 million; over 1 hour it decreased by 6.95%. This is the old positions unwinding rather than new shorts piling in to press down; funding rate is 0.031% and longs are still paying.
Selling down as the price falls suggests those leaving are profit-takers rather than new shorts entering. This move looks more like rotation and turnover at elevated levels. Reclaiming the price from 1 hour ago at 0.4561 is what counts as being truly supported; a break below the 24h low of 0.3188 means it's over.
#SOON order book
