MAGICUSDT fell 37.8% today. Would a 37.8% rise get it back? Treating gains and losses as equal and opposite can make the recovery hurdle look smaller: from the current reading, it would need to rise about 60.7% to return to the same window’s starting point.
At 11:07 Beijing time, I checked Binance’s rolling 24-hour data for this perpetual contract: it was down about 37.8%, and the latest trade price was 5.3% above the window low. A rebound from the low had already begun; these readings reflect the time they were taken, and both the price and the window will move afterward.
The issue is that the base has changed. The decline is measured from the pre-drop price, while the rebound is measured from the lower, post-drop price. The same percentage rise therefore corresponds to a smaller price difference.
Based on the original prices, even a subsequent rise by the same percentage as this decline would still leave the price about 14.3% below the window’s starting point. This comparison uses the start of the market-data window; an individual’s break-even point depends on their purchase price and holding costs.
The deeper the drop, the larger the gap left after a rebound of the same percentage.
$MAGIC #MarketWatch
At 11:07 Beijing time, I checked Binance’s rolling 24-hour data for this perpetual contract: it was down about 37.8%, and the latest trade price was 5.3% above the window low. A rebound from the low had already begun; these readings reflect the time they were taken, and both the price and the window will move afterward.
The issue is that the base has changed. The decline is measured from the pre-drop price, while the rebound is measured from the lower, post-drop price. The same percentage rise therefore corresponds to a smaller price difference.
Based on the original prices, even a subsequent rise by the same percentage as this decline would still leave the price about 14.3% below the window’s starting point. This comparison uses the start of the market-data window; an individual’s break-even point depends on their purchase price and holding costs.
The deeper the drop, the larger the gap left after a rebound of the same percentage.
$MAGIC #MarketWatch