$BLUR This four-hour candle rose 24%, with the high climbing to 0.01377. The two levels noted in the previous post were dealt with in opposite ways this time: the lower bound at 0.01148 was briefly broken, with a low of 0.01025, but the price didn’t stay below it. It reversed and crossed above the upper bound at 0.01205 as well. However, it couldn’t hold that high and gave back gains toward the close. The latest hour is down 1.09%, with the price currently at 0.01269 USDT.
Funding costs didn’t move in step with price this time. The previous post was waiting for the funding rate to move toward zero, but it went the other way: the reading fell from -0.48% to -1.49%, moving even farther from zero. As the price surged, the gap between the two widened further. The next funding settlement is at 00:00 Taipei time. If the reading continues deeper into negative territory, the skew in funding costs will be further confirmed; only a move back toward zero would ease it.
Watch two levels from here: a move back above 0.01377, the four-hour high, and a hold there would be needed before this push could be said to have another gear. If the price falls back through 0.01025, the four-hour low, it would have given back the entire surge.
Keep the opposing view in mind, too: the 24-hour return has flipped from -35.2% at the time of the previous post to +21%. Swings of this magnitude are inherently large; after a sharp rally, an equally fast pullback could happen at any time. It’s still too early to tell whether this move is just catching its breath or has run its course.
#MarketAnalysis
Funding costs didn’t move in step with price this time. The previous post was waiting for the funding rate to move toward zero, but it went the other way: the reading fell from -0.48% to -1.49%, moving even farther from zero. As the price surged, the gap between the two widened further. The next funding settlement is at 00:00 Taipei time. If the reading continues deeper into negative territory, the skew in funding costs will be further confirmed; only a move back toward zero would ease it.
Watch two levels from here: a move back above 0.01377, the four-hour high, and a hold there would be needed before this push could be said to have another gear. If the price falls back through 0.01025, the four-hour low, it would have given back the entire surge.
Keep the opposing view in mind, too: the 24-hour return has flipped from -35.2% at the time of the previous post to +21%. Swings of this magnitude are inherently large; after a sharp rally, an equally fast pullback could happen at any time. It’s still too early to tell whether this move is just catching its breath or has run its course.
#MarketAnalysis