$RLC The conditions left in the previous post were: reclaim 0.7396 and hold above it before talking about extending the move into another leg. This time, price crossed that level and even pushed as high as 0.7923, but failed to hold, retreating to 0.7051 USDT—about 11% below the high. The 24-hour figure is still up +88.6%, but the short-term trend has already turned down: the net change over the past four hours is -3.6%, and over the past hour, -1.4%.
Volume is one of the few things that hasn’t pulled back this time: 24-hour trading volume is about 37.95 million USDT, roughly 50% higher than at the time of the previous post. Price is retreating while volume is expanding—the swings in this move haven’t been subdued.
Funding costs have also moved away from near zero: the reading has slipped to -0.0485%, a little farther from the zero line, though the move is still small.
Two levels will help confirm what comes next: reclaiming 0.7923 would put the continuation back on track; falling below the 4H low at 0.6759 would turn the pullback from consolidation into a continued decline. The next funding-rate settlement is at 13:00 Taipei time: a return toward the zero line would confirm that the cooling-off has truly stabilized; moving further into negative territory would mean the cooling-off still has a ways to go.
The other side of the argument: 0.6759 has not been decisively broken, and swings are naturally large after a sharp rally. This pullback could simply be giving back some of the previous leg, with direction not yet firmly established.
#MarketAnalysis
Volume is one of the few things that hasn’t pulled back this time: 24-hour trading volume is about 37.95 million USDT, roughly 50% higher than at the time of the previous post. Price is retreating while volume is expanding—the swings in this move haven’t been subdued.
Funding costs have also moved away from near zero: the reading has slipped to -0.0485%, a little farther from the zero line, though the move is still small.
Two levels will help confirm what comes next: reclaiming 0.7923 would put the continuation back on track; falling below the 4H low at 0.6759 would turn the pullback from consolidation into a continued decline. The next funding-rate settlement is at 13:00 Taipei time: a return toward the zero line would confirm that the cooling-off has truly stabilized; moving further into negative territory would mean the cooling-off still has a ways to go.
The other side of the argument: 0.6759 has not been decisively broken, and swings are naturally large after a sharp rally. This pullback could simply be giving back some of the previous leg, with direction not yet firmly established.
#MarketAnalysis
