The issue left in the previous post about $QNT now has an answer: the funding rate has moved back from +0.01% to -0.047%, and that bullish stance on the cost side only lasted one round. Price has also recognized that shift: the current price is 259.92 USDT, 24 hours has flipped from +17.5% in the previous post to -14.8%, and this 4H move started at 274.11, currently -5.13%, with the intraday low at 255.24. From the 307.3 high, price has already retraced about 15%; 24H trading volume is about 130 million USDT, nearly 30% lower than the roughly 181 million in that previous round.
The past hour has stabilized for now: +1.16%, rebounding from 255.24 back to around 260. 255.24 is the shared low for both 1H and 4H; if it closes below that, the pullback shifts from a retracement into trend continuation. If price returns above 274.11, the starting point of this 4H move, then this decline can be considered temporarily contained. There is another funding rate settlement at 08:00 Taipei time: if it stays negative, the cost side is effectively endorsing the drop; if it flips back above zero, then that earlier statement really did only last one round.
Still, the short-term trend has not completely broken down yet: the last hour is positive, 255.24 has not been decisively broken, and the retracement since 307.3 may just be giving back the prior sharp rally rather than starting a new downtrend.
#marketanalysis
The past hour has stabilized for now: +1.16%, rebounding from 255.24 back to around 260. 255.24 is the shared low for both 1H and 4H; if it closes below that, the pullback shifts from a retracement into trend continuation. If price returns above 274.11, the starting point of this 4H move, then this decline can be considered temporarily contained. There is another funding rate settlement at 08:00 Taipei time: if it stays negative, the cost side is effectively endorsing the drop; if it flips back above zero, then that earlier statement really did only last one round.
Still, the short-term trend has not completely broken down yet: the last hour is positive, 255.24 has not been decisively broken, and the retracement since 307.3 may just be giving back the prior sharp rally rather than starting a new downtrend.
#marketanalysis
