$TRUTH The first notable pullback after the breakout has not yet damaged the structure. I’ll continue watching to see whether price can resume its advance: the previous high has been reclaimed on a closing basis, and the latest hourly low is still rising. However, price action, trading volume, and exposure are all cooling at the same time, so the acceleration after midnight should not be extrapolated unchanged.
At 02:03 Beijing time on October 14, Binance TRUTHUSDT perpetuals were quoted at 0.018368, up 24.192% over the rolling 24 hours, with approximately 36.43 million USDT in volume, ranking second among 523 eligible USDT perpetual contracts. The 02:00–03:00 hour is not yet complete, so the current quote cannot be treated as the hourly close.
The midnight update focused on holding 0.017171 and reclaiming 0.017659. From 00:00 to 01:00, price rose from 0.017451 to close at 0.018317, a gain of about 4.96%. Volume was 8.25 million USDT, up 136.3% from 3.49 million during 23:00–00:00. The close moved above 0.017659, and price reached 0.018766, confirming the reclaim above that level anticipated in the previous update, alongside a clear increase in participation.
Then, from 01:00 to 02:00, price fell about 1.02%, from 0.018323 to close at 0.018137. Volume declined to 7.11 million USDT, down 13.7% from the previous hour. This was not a rally entirely free of selling pressure, but the pullback came on lower volume, and the close remained above 0.017659. The intrahour low of 0.017641 briefly dipped below that level, so it is accurate to say the level was reclaimed at the close, but not that price held above it throughout the entire hour.
The consecutive lows rose from 0.016888 during 23:00–00:00, to 0.017360 during 00:00–01:00, and then to 0.017641 during 01:00–02:00. Higher lows support the view that buyers are still stepping in, while the latest hourly high of 0.018609 was below the previous high of 0.018766, indicating that the upward advance has temporarily stalled. Support from below and cooling momentum above are both present, so I won’t focus on just one to determine the direction of the next move.
Open interest has also turned. OI rose from 513.5 million tokens at midnight to 561.8 million at 01:00, an increase of about 9.41%, then fell to 552.9 million at 02:00, a decrease of about 1.60%. Exposure has begun to contract after expanding in the previous hour, though it remains about 7.67% above the midnight level. This is consistent with the sequence of an advance followed by a pullback, but it does not tell us whether longs or shorts reduced their positions, nor does an increase in OI by itself mean net capital inflows.
The last settled funding rate at midnight was still positive at 0.041572%. The historical records available for this update contain no new settlement point for 02:00. We can therefore carry forward the position-cost context from the previous update, but cannot say that the funding rate rose again during this hour, or use it to confirm a short squeeze or identify a particular trader group.
The full four-hour gain of 12.60% and volume of 12.45 million USDT from 20:00 to 00:00 still stand. Only two hourly candles in the 00:00–04:00 window have been completed so far. Even if volume across those two hours is already active, it is too early to declare a new four-hour gain or compare its volume with that of the previous four-hour period as if the intervals were equal in length.
TRUTH is associated with Swarm Network. After checking the project’s and exchange’s original sources again, I could not verify a single announcement from today that directly explains this advance. The 2025 listing materials confirm the project’s identity; they are not new information from tonight. The new assessment in this update comes from the actual pullback after reclaiming the previous high, the higher lows, and the turn in OI.
Next, I’ll first watch whether 0.017659 continues to hold on completed hourly closes, then whether price can reclaim 0.018609 and 0.018766. If volume recovers but price still cannot hold the highs, I’ll further downgrade the assessment of the advance. If the low breaks below 0.017641 and price then loses 0.017360 as well, I’ll revise the support assessment downward. The breakout has received partial confirmation, but continued progress still needs to be demonstrated by the next complete hourly candle.
Sources: Binance public candlestick data, historical OI, settled funding rates, and official project listing materials.
At 02:03 Beijing time on October 14, Binance TRUTHUSDT perpetuals were quoted at 0.018368, up 24.192% over the rolling 24 hours, with approximately 36.43 million USDT in volume, ranking second among 523 eligible USDT perpetual contracts. The 02:00–03:00 hour is not yet complete, so the current quote cannot be treated as the hourly close.
The midnight update focused on holding 0.017171 and reclaiming 0.017659. From 00:00 to 01:00, price rose from 0.017451 to close at 0.018317, a gain of about 4.96%. Volume was 8.25 million USDT, up 136.3% from 3.49 million during 23:00–00:00. The close moved above 0.017659, and price reached 0.018766, confirming the reclaim above that level anticipated in the previous update, alongside a clear increase in participation.
Then, from 01:00 to 02:00, price fell about 1.02%, from 0.018323 to close at 0.018137. Volume declined to 7.11 million USDT, down 13.7% from the previous hour. This was not a rally entirely free of selling pressure, but the pullback came on lower volume, and the close remained above 0.017659. The intrahour low of 0.017641 briefly dipped below that level, so it is accurate to say the level was reclaimed at the close, but not that price held above it throughout the entire hour.
The consecutive lows rose from 0.016888 during 23:00–00:00, to 0.017360 during 00:00–01:00, and then to 0.017641 during 01:00–02:00. Higher lows support the view that buyers are still stepping in, while the latest hourly high of 0.018609 was below the previous high of 0.018766, indicating that the upward advance has temporarily stalled. Support from below and cooling momentum above are both present, so I won’t focus on just one to determine the direction of the next move.
Open interest has also turned. OI rose from 513.5 million tokens at midnight to 561.8 million at 01:00, an increase of about 9.41%, then fell to 552.9 million at 02:00, a decrease of about 1.60%. Exposure has begun to contract after expanding in the previous hour, though it remains about 7.67% above the midnight level. This is consistent with the sequence of an advance followed by a pullback, but it does not tell us whether longs or shorts reduced their positions, nor does an increase in OI by itself mean net capital inflows.
The last settled funding rate at midnight was still positive at 0.041572%. The historical records available for this update contain no new settlement point for 02:00. We can therefore carry forward the position-cost context from the previous update, but cannot say that the funding rate rose again during this hour, or use it to confirm a short squeeze or identify a particular trader group.
The full four-hour gain of 12.60% and volume of 12.45 million USDT from 20:00 to 00:00 still stand. Only two hourly candles in the 00:00–04:00 window have been completed so far. Even if volume across those two hours is already active, it is too early to declare a new four-hour gain or compare its volume with that of the previous four-hour period as if the intervals were equal in length.
TRUTH is associated with Swarm Network. After checking the project’s and exchange’s original sources again, I could not verify a single announcement from today that directly explains this advance. The 2025 listing materials confirm the project’s identity; they are not new information from tonight. The new assessment in this update comes from the actual pullback after reclaiming the previous high, the higher lows, and the turn in OI.
Next, I’ll first watch whether 0.017659 continues to hold on completed hourly closes, then whether price can reclaim 0.018609 and 0.018766. If volume recovers but price still cannot hold the highs, I’ll further downgrade the assessment of the advance. If the low breaks below 0.017641 and price then loses 0.017360 as well, I’ll revise the support assessment downward. The breakout has received partial confirmation, but continued progress still needs to be demonstrated by the next complete hourly candle.
Sources: Binance public candlestick data, historical OI, settled funding rates, and official project listing materials.