$STRK is up nearly 60% with no news; if 0.07 holds, I’m leaning bullish
$STRK had no direct news today, but it’s up 59.32% over the past 24 hours, with the price currently at 0.117.
Let’s use today’s rally to talk about something: funding rates. They’re basically a little ledger showing who pays whom between longs and shorts. The rate is slightly positive right now, so longs are paying a small amount—but nowhere near overheated. That suggests this rally isn’t being driven by a short squeeze.
The market is following the L1 transition narrative from a few days ago, but today it’s holding up on technicals alone.
On the 4-hour chart, the shorter moving average is still above the longer one, and the daily price is also above its moving averages. The short-term move is a little stretched, but it hasn’t broken down. 0.07 is the low from the past two days; as long as a retest holds above it, the bullish structure remains intact.
0.12 is the high from the past two days. To push higher, it’ll need to break through on strong volume; if it can’t, it’ll need more time to consolidate.
Lots of people are saying it’s gone up too much and needs a breather. I’m not siding with them.
The funding rate hasn’t gone crazy, and open interest is still elevated—so why say this is the top?
#STRK #加密货币
$STRK had no direct news today, but it’s up 59.32% over the past 24 hours, with the price currently at 0.117.
Let’s use today’s rally to talk about something: funding rates. They’re basically a little ledger showing who pays whom between longs and shorts. The rate is slightly positive right now, so longs are paying a small amount—but nowhere near overheated. That suggests this rally isn’t being driven by a short squeeze.
The market is following the L1 transition narrative from a few days ago, but today it’s holding up on technicals alone.
On the 4-hour chart, the shorter moving average is still above the longer one, and the daily price is also above its moving averages. The short-term move is a little stretched, but it hasn’t broken down. 0.07 is the low from the past two days; as long as a retest holds above it, the bullish structure remains intact.
0.12 is the high from the past two days. To push higher, it’ll need to break through on strong volume; if it can’t, it’ll need more time to consolidate.
Lots of people are saying it’s gone up too much and needs a breather. I’m not siding with them.
The funding rate hasn’t gone crazy, and open interest is still elevated—so why say this is the top?
#STRK #加密货币