$RSR Yesterday, that four-hour candle pushed the price up 43% in one go, touching 0.002999. The entire rally has now stalled: down 2.43% over the past four hours and 0.26% over the past hour, with the current price at 0.002286 USDT—about 24% below that candle’s high. The 24-hour gain has also narrowed from +48.3% in the previous post to +39.6%.
The real change is on the cost side. When the previous post tracked the move, the funding rate was still at -1.92%, firmly in negative territory. This reading has returned to -0.889%, moving nearly halfway back toward zero. The price is pulling back, and funding costs are easing too, so the tug-of-war is a little less intense than in the previous post.
Volume, however, has increased at the same time. 24-hour trading volume is about 34.68 million USDT, up roughly 87% from the approximately 18.5 million in the previous post.
Two levels will help confirm what happens next: a move back above 0.002384, the high of that four-hour candle, and holding there would be the first sign that this pullback has been contained. A close below 0.002205, that four-hour candle’s low, would open the door to another leg down. The next funding-rate settlement is at 08:00 Taipei time. If the reading keeps moving toward zero, that would confirm the cost side is truly easing; if it sinks further into negative territory, this move toward convergence will have been only temporary.
There’s also a counterpoint to keep in mind: the previous leg’s high-to-low range was close to 80%, and swings of that magnitude are inherently large. This pullback may simply be giving back some of the earlier move, with the direction not yet firmly decided.
#MarketAnalysis
The real change is on the cost side. When the previous post tracked the move, the funding rate was still at -1.92%, firmly in negative territory. This reading has returned to -0.889%, moving nearly halfway back toward zero. The price is pulling back, and funding costs are easing too, so the tug-of-war is a little less intense than in the previous post.
Volume, however, has increased at the same time. 24-hour trading volume is about 34.68 million USDT, up roughly 87% from the approximately 18.5 million in the previous post.
Two levels will help confirm what happens next: a move back above 0.002384, the high of that four-hour candle, and holding there would be the first sign that this pullback has been contained. A close below 0.002205, that four-hour candle’s low, would open the door to another leg down. The next funding-rate settlement is at 08:00 Taipei time. If the reading keeps moving toward zero, that would confirm the cost side is truly easing; if it sinks further into negative territory, this move toward convergence will have been only temporary.
There’s also a counterpoint to keep in mind: the previous leg’s high-to-low range was close to 80%, and swings of that magnitude are inherently large. This pullback may simply be giving back some of the earlier move, with the direction not yet firmly decided.
#MarketAnalysis