$WAL The assessment in the previous note that the lower levels were “temporarily holding” needs to be revised downward. The latest complete hourly candle broke below a key range. Although the close recovered, the retest was already more fragile than before. Continue to wait and see; do not treat the recovery as confirmation to chase the price immediately.
At 22:33 Beijing time on October 14, Binance WALUSDT perpetuals were quoted at 0.051420, up 34.361% over the rolling 24 hours, with approximately 256 million USDT in volume. It ranked second among 523 eligible USDT perpetual contracts. The 24-hour gain is not inconsistent with weakness in the latest hour; the two figures use different measurement windows.
The 21:00 note pointed out that the 20:00–21:00 high of 0.054990 was not held into the close, but the low of 0.051030 remained above the earlier 0.051020 and 0.050330 levels. The newly completed 21:00–22:00 hour opened at 0.052520 and closed at 0.051340, down 2.25%. Its high was only 0.053050, while its low fell to 0.048880.
This means the 0.051020 and 0.050330 levels highlighted in the previous note, and even the earlier 0.049560 level, were breached intrahour. The previous condition of holding the lower levels has indeed been broken; the breach cannot be ignored just because the price later recovered. On the other hand, the 0.051340 close moved back above those old levels, so it would be premature to say the entire breakout has definitively failed. More accurately, a deeper retest has occurred, and the recovery still needs to be tested again.
Volume has not disappeared noticeably. The latest hour saw about 32.24 million USDT in volume, just 4.86% below the previous hour’s 33.88 million; the 19:00–20:00 period saw 27.62 million. Participation remains elevated, but the closes for 18:00–19:00, 19:00–20:00, 20:00–21:00, and 21:00–22:00 were 0.054110, 0.052920, 0.052520, and 0.051340, respectively. This sequence of lower closes matters more than looking at intrahour rebounds alone.
OI fell from 213.5 million tokens to 209.7 million, a decrease of 1.74%, reversing the previous hour’s 4.34% increase. The price and open interest declined together, indicating that some contracts were closed. This does not tell us whether longs reduced positions, shorts covered, or liquidations occurred; without liquidation details, the cause cannot be determined. OI notional value is also not the same as net outflow.
The latest completed four-hour period is still 16:00–20:00, which gained 9.82% on approximately 106 million USDT in volume and provides context for the earlier advance. The 20:00–24:00 period has only two completed hourly candles so far, so the 21:00–22:00 pullback should not be described as a new four-hour candle closing lower. The broader backdrop remains in place, but the quality of the short-term hold has deteriorated.
The latest settled funding rate remains the 20:00 reading of -0.777472%; there was no new settlement at 22:00. This records shorts paying longs for that settlement. It is neither an annualized rate nor a forecast for the next settlement, and it does not offset the evidence of the price breaking below support.
WAL is associated with Walrus. After rechecking the official materials for this update, I have not confirmed any new announcement from the past hour that would explain this move. The analysis therefore continues to focus on price, volume, and the open-interest path, rather than presenting older developments as a fresh catalyst.
Next, I will focus on whether 0.050330 and 0.049560 hold during subsequent retests, and whether the price can establish stable closes near 0.051020. If 0.048880 is lost again, the assessment of support will be revised further downward. Above, the first level to watch is 0.053050, followed by 0.054400 and 0.054990. The outlook for continuation will improve only if lower levels hold and higher closes appear at the same time. The 22:00–23:00 hour is not yet complete, and the current quote is not a substitute for confirmation.
Sources: Binance public candlestick data, historical OI, settled funding rates, and official project materials.
At 22:33 Beijing time on October 14, Binance WALUSDT perpetuals were quoted at 0.051420, up 34.361% over the rolling 24 hours, with approximately 256 million USDT in volume. It ranked second among 523 eligible USDT perpetual contracts. The 24-hour gain is not inconsistent with weakness in the latest hour; the two figures use different measurement windows.
The 21:00 note pointed out that the 20:00–21:00 high of 0.054990 was not held into the close, but the low of 0.051030 remained above the earlier 0.051020 and 0.050330 levels. The newly completed 21:00–22:00 hour opened at 0.052520 and closed at 0.051340, down 2.25%. Its high was only 0.053050, while its low fell to 0.048880.
This means the 0.051020 and 0.050330 levels highlighted in the previous note, and even the earlier 0.049560 level, were breached intrahour. The previous condition of holding the lower levels has indeed been broken; the breach cannot be ignored just because the price later recovered. On the other hand, the 0.051340 close moved back above those old levels, so it would be premature to say the entire breakout has definitively failed. More accurately, a deeper retest has occurred, and the recovery still needs to be tested again.
Volume has not disappeared noticeably. The latest hour saw about 32.24 million USDT in volume, just 4.86% below the previous hour’s 33.88 million; the 19:00–20:00 period saw 27.62 million. Participation remains elevated, but the closes for 18:00–19:00, 19:00–20:00, 20:00–21:00, and 21:00–22:00 were 0.054110, 0.052920, 0.052520, and 0.051340, respectively. This sequence of lower closes matters more than looking at intrahour rebounds alone.
OI fell from 213.5 million tokens to 209.7 million, a decrease of 1.74%, reversing the previous hour’s 4.34% increase. The price and open interest declined together, indicating that some contracts were closed. This does not tell us whether longs reduced positions, shorts covered, or liquidations occurred; without liquidation details, the cause cannot be determined. OI notional value is also not the same as net outflow.
The latest completed four-hour period is still 16:00–20:00, which gained 9.82% on approximately 106 million USDT in volume and provides context for the earlier advance. The 20:00–24:00 period has only two completed hourly candles so far, so the 21:00–22:00 pullback should not be described as a new four-hour candle closing lower. The broader backdrop remains in place, but the quality of the short-term hold has deteriorated.
The latest settled funding rate remains the 20:00 reading of -0.777472%; there was no new settlement at 22:00. This records shorts paying longs for that settlement. It is neither an annualized rate nor a forecast for the next settlement, and it does not offset the evidence of the price breaking below support.
WAL is associated with Walrus. After rechecking the official materials for this update, I have not confirmed any new announcement from the past hour that would explain this move. The analysis therefore continues to focus on price, volume, and the open-interest path, rather than presenting older developments as a fresh catalyst.
Next, I will focus on whether 0.050330 and 0.049560 hold during subsequent retests, and whether the price can establish stable closes near 0.051020. If 0.048880 is lost again, the assessment of support will be revised further downward. Above, the first level to watch is 0.053050, followed by 0.054400 and 0.054990. The outlook for continuation will improve only if lower levels hold and higher closes appear at the same time. The 22:00–23:00 hour is not yet complete, and the current quote is not a substitute for confirmation.
Sources: Binance public candlestick data, historical OI, settled funding rates, and official project materials.