$STRK Price action today has been textbook: every volume spike came with a move down, and each rebound was lower than the last.
Gate perpetual STRK is currently around 0.0708, down 14.2% over 24h, with a daily high of 0.0836 and low of 0.0695, and trading volume of about 11.32 million U. At the same time, BTC is around 81570 (-0.6%). The broader market is only slightly down, while STRK is notably weaker.
Breaking down the price and volume:
Yesterday, hourly volume was about 440,000–480,000 U between 14:00 and 15:00, as the price plunged from 0.084 to 0.0793—the first leg down;
At 18:00, about 1.04 million U in volume sent it down to 0.0763. At 19:00, another roughly 1.05 million U accompanied a rebound to 0.0805, but despite the heavy volume, it failed to reclaim 0.08;
At 23:00, 00:00, and 01:00, volume was about 1.24 million U, 1.07 million U, and 900,000 U, respectively. Three consecutive high-volume bearish candles drove the price down to 0.0723;
Today at 10:00, about 660,000 U in volume pushed it to a new low of 0.0701, and at 11:00 it touched 0.0695.
The rebound highs were 0.0805, 0.0778, 0.0748, and 0.0722—each lower than the last. This is a textbook downtrend structure.
The 14:00 candle has only seen about 50,000 U in volume so far. Volume has dried up, and the price is moving sideways between 0.0705 and 0.072. Lower volume doesn't mean the bottom is in; it looks more like sellers taking a breather while buyers are still afraid to step in. The funding rate is +0.005%/4h, and neither side is crowded, so there's no fuel for a short squeeze.
My view:
The structure remains bearish, so I'm not buying the dip.
For the trend to turn bullish, it needs to reclaim 0.0748 on increased volume at a minimum (the high of today's 10:00 candle), breaking this sequence of lower highs.
If 0.0695 breaks on increased volume, that would mean another new low—don't try to catch the falling knife.
If you want to short, don't chase below 0.070. Wait for a rebound to 0.072–0.0725 that gets rejected on lower volume, then reassess. If it reclaims 0.0748, admit the trade is wrong.
Looking back at my $ETHFI post from last night: I said not to chase and to consider a light short on a rebound to 0.70–0.705, targeting 0.68. The rebound only reached 0.6992, so it never gave the short entry. The direction was right: at 3 a.m. the low was 0.6701, breaking below 0.68, and it's now around 0.687. The directional call was correct, but my entry was set a little too high, so I missed the move.
This is for market observation only and is not investment advice.
Gate perpetual STRK is currently around 0.0708, down 14.2% over 24h, with a daily high of 0.0836 and low of 0.0695, and trading volume of about 11.32 million U. At the same time, BTC is around 81570 (-0.6%). The broader market is only slightly down, while STRK is notably weaker.
Breaking down the price and volume:
Yesterday, hourly volume was about 440,000–480,000 U between 14:00 and 15:00, as the price plunged from 0.084 to 0.0793—the first leg down;
At 18:00, about 1.04 million U in volume sent it down to 0.0763. At 19:00, another roughly 1.05 million U accompanied a rebound to 0.0805, but despite the heavy volume, it failed to reclaim 0.08;
At 23:00, 00:00, and 01:00, volume was about 1.24 million U, 1.07 million U, and 900,000 U, respectively. Three consecutive high-volume bearish candles drove the price down to 0.0723;
Today at 10:00, about 660,000 U in volume pushed it to a new low of 0.0701, and at 11:00 it touched 0.0695.
The rebound highs were 0.0805, 0.0778, 0.0748, and 0.0722—each lower than the last. This is a textbook downtrend structure.
The 14:00 candle has only seen about 50,000 U in volume so far. Volume has dried up, and the price is moving sideways between 0.0705 and 0.072. Lower volume doesn't mean the bottom is in; it looks more like sellers taking a breather while buyers are still afraid to step in. The funding rate is +0.005%/4h, and neither side is crowded, so there's no fuel for a short squeeze.
My view:
The structure remains bearish, so I'm not buying the dip.
For the trend to turn bullish, it needs to reclaim 0.0748 on increased volume at a minimum (the high of today's 10:00 candle), breaking this sequence of lower highs.
If 0.0695 breaks on increased volume, that would mean another new low—don't try to catch the falling knife.
If you want to short, don't chase below 0.070. Wait for a rebound to 0.072–0.0725 that gets rejected on lower volume, then reassess. If it reclaims 0.0748, admit the trade is wrong.
Looking back at my $ETHFI post from last night: I said not to chase and to consider a light short on a rebound to 0.70–0.705, targeting 0.68. The rebound only reached 0.6992, so it never gave the short entry. The direction was right: at 3 a.m. the low was 0.6701, breaking below 0.68, and it's now around 0.687. The directional call was correct, but my entry was set a little too high, so I missed the move.
This is for market observation only and is not investment advice.