$CT This move jumped from 0.40 to 0.53 in one go—up 24% in 24h. Now it’s stuck around 0.49, and it’s got me a bit riled up.
Here are the hard numbers: in the last 6 hours there are 5 green candles. The trading volume went straight to a level hundreds of thousands of times the amount from the first 6 hours. Open interest also increased by 6.2% in just the last hour. The big-holders long/short ratio is 1.59, and longs are clearly in control. Funding rate is only 0.0050%—not at the crazy stage yet.
The counterintuitive part is this—Gate has already listed it on the spot market, while Binance Alpha is still running a trading contest with a notional of 200,000 USDT. The news is real, but the price has already pulled back 7.5% from the 24h high. This isn’t a top—it’s just the normal shakeout after a too-fast rally. Current price is above MA25 (around 0.46), while MA7 (around 0.39) is still far below supporting the structure. The structure hasn’t broken.
My take is very direct: if it pulls back to around 0.46 and doesn’t break, that’s the long entry. Targets: back to the 0.53 prior high. If it breaks 0.53 directly with volume, I’d chase for 0.58. If it falls below 0.44, then the fuel for this rally is effectively cut off.
I’ll keep buying on the retracement.
Here are the hard numbers: in the last 6 hours there are 5 green candles. The trading volume went straight to a level hundreds of thousands of times the amount from the first 6 hours. Open interest also increased by 6.2% in just the last hour. The big-holders long/short ratio is 1.59, and longs are clearly in control. Funding rate is only 0.0050%—not at the crazy stage yet.
The counterintuitive part is this—Gate has already listed it on the spot market, while Binance Alpha is still running a trading contest with a notional of 200,000 USDT. The news is real, but the price has already pulled back 7.5% from the 24h high. This isn’t a top—it’s just the normal shakeout after a too-fast rally. Current price is above MA25 (around 0.46), while MA7 (around 0.39) is still far below supporting the structure. The structure hasn’t broken.
My take is very direct: if it pulls back to around 0.46 and doesn’t break, that’s the long entry. Targets: back to the 0.53 prior high. If it breaks 0.53 directly with volume, I’d chase for 0.58. If it falls below 0.44, then the fuel for this rally is effectively cut off.
I’ll keep buying on the retracement.
