$GTC The previous post said it needed to hold above 0.314 before we could talk about shifting up another gear. This round, it has cleared that level, with the four-hour high reaching 0.338. The current price is 0.3265 USDT, still above 0.314 and about 3.4% off the high.
The cost side is especially worth noting: funding came in at -0.069% this round, almost back to the zero line. It was -1.11% in the October 17 post and -0.18% in the previous one. Looking across these posts, this is the first time it has come this close to neutral. Price is pushing higher, while the imbalance is nearly gone; the two sides are no longer moving independently as they did in previous rounds.
The pace makes this new high look shaky: in the past hour, the price first dipped to 0.30246, then shot straight up to 0.338, gaining 6.19% in that hour alone. Most of the four-hour gain of 8.80% came in that single hour, and the price pulled back as soon as it touched the high. 24-hour trading volume is about 16.7 million USDT, roughly 30% higher than the 12.8 million in the previous post, making it the highest volume seen across these posts.
Watch two levels from here: reclaiming 0.338 and holding above it would be needed to talk about shifting up another gear; a break below 0.30246, the starting point of this hour's rally, would give back the entire move. The next funding settlement is at 08:00 Taipei time. If the reading turns positive from near the zero line, funding costs will have shifted from negative to positive, and only then will this round's imbalance have truly completed a full cycle.
Keep the downside scenario in mind, too: the high-low spread this hour was over 10%, and the price has moved 28% in 24 hours, so volatility is already high. The price failed to hold the high, and it's still unclear whether this is just a pause along the way or whether the move has nearly run out of steam.
#MarketAnalysis
The cost side is especially worth noting: funding came in at -0.069% this round, almost back to the zero line. It was -1.11% in the October 17 post and -0.18% in the previous one. Looking across these posts, this is the first time it has come this close to neutral. Price is pushing higher, while the imbalance is nearly gone; the two sides are no longer moving independently as they did in previous rounds.
The pace makes this new high look shaky: in the past hour, the price first dipped to 0.30246, then shot straight up to 0.338, gaining 6.19% in that hour alone. Most of the four-hour gain of 8.80% came in that single hour, and the price pulled back as soon as it touched the high. 24-hour trading volume is about 16.7 million USDT, roughly 30% higher than the 12.8 million in the previous post, making it the highest volume seen across these posts.
Watch two levels from here: reclaiming 0.338 and holding above it would be needed to talk about shifting up another gear; a break below 0.30246, the starting point of this hour's rally, would give back the entire move. The next funding settlement is at 08:00 Taipei time. If the reading turns positive from near the zero line, funding costs will have shifted from negative to positive, and only then will this round's imbalance have truly completed a full cycle.
Keep the downside scenario in mind, too: the high-low spread this hour was over 10%, and the price has moved 28% in 24 hours, so volatility is already high. The price failed to hold the high, and it's still unclear whether this is just a pause along the way or whether the move has nearly run out of steam.
#MarketAnalysis