Down 30.33% in a day, $EPIC plunged from 0.278300 to 0.184000, ending near the bottom of the day's range. Three levels are all you need to make a call:
0.168000 — the day's low. If it breaks below and fails to reclaim it, the bulls' defenses are gone. There's no nearby high-volume zone to catch the price, so it could keep sliding;
0.200000 — reclaim this level and see the funding rate turn positive, and dip buyers have confirmed their conviction. Only then look toward the previous high at 0.278300;
Between 0.168000 and 0.200000 — if it chops around, do nothing.
The contract net long ratio at 1.2018 has only just touched the bullish threshold, while the funding rate at +0.0000% is hovering around zero. Big money hasn't really taken a side. For $EPIC , keep your eyes on 0.168000—that level tells you more than the size of the drop.
0.168000 — the day's low. If it breaks below and fails to reclaim it, the bulls' defenses are gone. There's no nearby high-volume zone to catch the price, so it could keep sliding;
0.200000 — reclaim this level and see the funding rate turn positive, and dip buyers have confirmed their conviction. Only then look toward the previous high at 0.278300;
Between 0.168000 and 0.200000 — if it chops around, do nothing.
The contract net long ratio at 1.2018 has only just touched the bullish threshold, while the funding rate at +0.0000% is hovering around zero. Big money hasn't really taken a side. For $EPIC , keep your eyes on 0.168000—that level tells you more than the size of the drop.