With a similar roughly 44% gain over 24 hours, market focus has shifted to profit-taking at elevated levels after the acceleration. Public Binance data at 13:36 (UTC+8) showed $NMR spot at 17.23 USDT, up 43.94%, and perpetuals at 17.134, up 43.57%; trading volumes were about 41.37 million and 358 million USDT, respectively.
In the last completed 1-hour period, spot rose 5.62%, with volume up 100.78% from the previous hour; perpetuals rose 5.86%, with volume at about 23.76 million USDT, up 74.94%. Over the last four completed hours, perpetuals gained 7.55%, while volume increased 193.50% compared with the previous four hours, clearly indicating accelerating price and volume.
👀 The current, unclosed hourly candle has already pulled back 1.95% from the previous close. OI by quantity rose 14.41% in the last hour and 90.39% over the 30-point window. The indicated Funding rate is -0.4940%, while the latest actual settlement was -0.4367%. Deeply negative funding and rapidly rising OI can amplify a short squeeze, but can also intensify a reverse deleveraging move if the rally fails. OI alone cannot determine the net long/short positioning.
I’m using the previous completed hour’s 16.259–17.799 range as the confirmation zone. A move back above 17.799 in a subsequent completed hourly candle would support another attempt higher—but only if spot volume and OI do not accelerate excessively. A break below 16.259 accompanied by contracting OI would make it more likely that this hourly acceleration is shifting into deleveraging. The current candle has not closed, so I’m not treating the intraday pullback as confirmation of a reversal.
In the last completed 1-hour period, spot rose 5.62%, with volume up 100.78% from the previous hour; perpetuals rose 5.86%, with volume at about 23.76 million USDT, up 74.94%. Over the last four completed hours, perpetuals gained 7.55%, while volume increased 193.50% compared with the previous four hours, clearly indicating accelerating price and volume.
👀 The current, unclosed hourly candle has already pulled back 1.95% from the previous close. OI by quantity rose 14.41% in the last hour and 90.39% over the 30-point window. The indicated Funding rate is -0.4940%, while the latest actual settlement was -0.4367%. Deeply negative funding and rapidly rising OI can amplify a short squeeze, but can also intensify a reverse deleveraging move if the rally fails. OI alone cannot determine the net long/short positioning.
I’m using the previous completed hour’s 16.259–17.799 range as the confirmation zone. A move back above 17.799 in a subsequent completed hourly candle would support another attempt higher—but only if spot volume and OI do not accelerate excessively. A break below 16.259 accompanied by contracting OI would make it more likely that this hourly acceleration is shifting into deleveraging. The current candle has not closed, so I’m not treating the intraday pullback as confirmation of a reversal.
