$CT From 0.40 to 0.62 in a single day—up 55 points. This surge has left me feeling a bit confused.
I looked into the data: 24-hour trading volume is 170 million USDT. In the past hour, the open interest jumped by 14.8% right away. In the recent 6 hours, it rallied 26 points—out of the 6 candlesticks, 5 are bullish. Trading volume is 2.9 times that of the prior 6 hours. The current price is 0.62, moving upward right along the MA7 (0.52) and MA25 (0.49). The long-bias structure is very clean. It’s only 0.4% away from the 24h high—meaning it’s basically trading at the very top right now.
So what are people betting on? On-chain financial operations system Concrete—its CT TGE on September 30. There’s a clear date on the calendar. The funding rate is still negative at -0.0096%, which suggests shorts are paying. The large trader long/short ratio at 0.83 is also slightly bearish. This setup looks like someone is front-running.
At this position, I’m leaning long. If it pulls back near 0.52 and doesn’t break, then I’ll keep holding to see it through. Upside targets: first look at 0.70; only after it holds above that should we talk about 0.80. The risk is the sell pressure around and before the TGE—just a brief mention.
Watch three things: whether 0.52 can be defended, on-chain unlocks around the 30th, and when the funding rate turns positive.
I looked into the data: 24-hour trading volume is 170 million USDT. In the past hour, the open interest jumped by 14.8% right away. In the recent 6 hours, it rallied 26 points—out of the 6 candlesticks, 5 are bullish. Trading volume is 2.9 times that of the prior 6 hours. The current price is 0.62, moving upward right along the MA7 (0.52) and MA25 (0.49). The long-bias structure is very clean. It’s only 0.4% away from the 24h high—meaning it’s basically trading at the very top right now.
So what are people betting on? On-chain financial operations system Concrete—its CT TGE on September 30. There’s a clear date on the calendar. The funding rate is still negative at -0.0096%, which suggests shorts are paying. The large trader long/short ratio at 0.83 is also slightly bearish. This setup looks like someone is front-running.
At this position, I’m leaning long. If it pulls back near 0.52 and doesn’t break, then I’ll keep holding to see it through. Upside targets: first look at 0.70; only after it holds above that should we talk about 0.80. The risk is the sell pressure around and before the TGE—just a brief mention.
Watch three things: whether 0.52 can be defended, on-chain unlocks around the 30th, and when the funding rate turns positive.
