#US This chart is already down 34% from its 7d high of 0.036397. Each rebound peak is lower than the last, and the bulls can't even reclaim half of the previous high. So what if open interest has jumped 1.7x in a day? The price is flat on the floor. The more aggressively positions pile up, the harder the crash will be. At a funding rate of just 0.009%, there's not even enough incentive to pay the cost of holding positions—what's going to push the price higher?
The downtrend is crystal clear. Short at the current price of 0.02398, with a first target of 0.0198, a second target of 0.0155, and a stop-loss at 0.0275. A break below 0.0198 would mark the start of an accelerated plunge. Don't wait for a rebound; a rebound is your chance to get in and short.
The downtrend is crystal clear. Short at the current price of 0.02398, with a first target of 0.0198, a second target of 0.0155, and a stop-loss at 0.0275. A break below 0.0198 would mark the start of an accelerated plunge. Don't wait for a rebound; a rebound is your chance to get in and short.