$SAND Two lingering mysteries left in the previous post will be unveiled together this round—and both fall on the cooling side.
On the price side first: the current price is 0.0634 USDT. It has dropped back below the 0.06605 level that was watched in the previous post. This 4H cycle started from 0.07061, with the high only reaching 0.07149—about one notch below the previous post’s 0.0735. Then it pulled down to a low of 0.06066, for a whole segment decline of -10.2%. From 0.07081 in the previous post to now, the price has actually fallen by about 10.5%.
The funding-rate side is the same story: after the settlement around 00:00 Taipei time, the funding rate narrowed from around -2% to -0.783%. The funding cost borne by the short side has eased significantly. The previous post said the retreat would only really begin once the readings converged—that step has now been reached.
But this retreat hasn’t been even: both price and funding rate are backing off, yet the 24H trading volume is about 50.15 million USDT—actually about 50% higher than the ~32.93 million in the previous post.
Next, look at two verifiable points: first, reclaiming and holding above 0.06605—only if this time breaks back below that level can it be said to get blocked. Second, after a close below 0.06066, which is the shared low on both the 1H and 4H charts, any pullback would open another downward leg. The next funding-rate settlement will be at 08:00 Taipei time: the reading will continue converging toward the zero line, confirming the cooldown once more; if it deepens to below -1%, then the retreat is only “half a step,” i.e., an extreme situation.
There’s also the other side to keep in mind: over the last hour it turned positive (+0.97%), and bounced back about 4.5% from the 0.06066 low. This round of pullback might just be giving back part of the sharp earlier rally, and the direction still hasn’t truly been chosen. If the funding rate is converging from extreme levels, it could also simply be a pullback from the extreme—without meaning the downtrend is already firmly established.
#Market Analysis
On the price side first: the current price is 0.0634 USDT. It has dropped back below the 0.06605 level that was watched in the previous post. This 4H cycle started from 0.07061, with the high only reaching 0.07149—about one notch below the previous post’s 0.0735. Then it pulled down to a low of 0.06066, for a whole segment decline of -10.2%. From 0.07081 in the previous post to now, the price has actually fallen by about 10.5%.
The funding-rate side is the same story: after the settlement around 00:00 Taipei time, the funding rate narrowed from around -2% to -0.783%. The funding cost borne by the short side has eased significantly. The previous post said the retreat would only really begin once the readings converged—that step has now been reached.
But this retreat hasn’t been even: both price and funding rate are backing off, yet the 24H trading volume is about 50.15 million USDT—actually about 50% higher than the ~32.93 million in the previous post.
Next, look at two verifiable points: first, reclaiming and holding above 0.06605—only if this time breaks back below that level can it be said to get blocked. Second, after a close below 0.06066, which is the shared low on both the 1H and 4H charts, any pullback would open another downward leg. The next funding-rate settlement will be at 08:00 Taipei time: the reading will continue converging toward the zero line, confirming the cooldown once more; if it deepens to below -1%, then the retreat is only “half a step,” i.e., an extreme situation.
There’s also the other side to keep in mind: over the last hour it turned positive (+0.97%), and bounced back about 4.5% from the 0.06066 low. This round of pullback might just be giving back part of the sharp earlier rally, and the direction still hasn’t truly been chosen. If the funding rate is converging from extreme levels, it could also simply be a pullback from the extreme—without meaning the downtrend is already firmly established.
#Market Analysis
