$BMT The 0.03012 and 0.02885 levels mentioned in yesterday’s post have both been lost. The current price is 0.02796 USDT. This four-hour candle opened at 0.02888, reached 0.02916, then fell back to 0.02741, closing at 0.02796, down 3.19%. In the final hour, it bounced 1.3% from the low, closing about 2% above it.
The 24-hour return widened from -13.65% to -16.79%, a difference of just over three percentage points—easy to read as a continuation of the same downtrend. But the price is 16.6% lower than it was then, because yesterday’s similarly sized drop just rolled out of the calculation window, offsetting the new decline.
Funding costs, however, have barely changed: the rate is -0.0254%, almost right where it was then at -0.0234%, still near the zero line. 24-hour trading volume is around 17.9 million USDT, slightly below the 18.25 million then. The price has fallen this much, but neither volume nor funding costs have followed suit—that’s what concerns me more.
For the downtrend to stop, price needs to reclaim 0.02916 and hold above it; beyond that, the next level is 0.03012. If 0.02741 breaks, the range shifts down another level. The next funding-rate settlement is at 05:00 Taipei time; only if the reading moves away from the zero line will funding costs be making a clear statement.
We should also leave room for the opposite scenario: in the final hour, price rebounded from 0.02741 but closed only back at the lower end of the range. Since volume hasn’t picked up, a single four-hour candle could change this pattern.
#MarketAnalysis
The 24-hour return widened from -13.65% to -16.79%, a difference of just over three percentage points—easy to read as a continuation of the same downtrend. But the price is 16.6% lower than it was then, because yesterday’s similarly sized drop just rolled out of the calculation window, offsetting the new decline.
Funding costs, however, have barely changed: the rate is -0.0254%, almost right where it was then at -0.0234%, still near the zero line. 24-hour trading volume is around 17.9 million USDT, slightly below the 18.25 million then. The price has fallen this much, but neither volume nor funding costs have followed suit—that’s what concerns me more.
For the downtrend to stop, price needs to reclaim 0.02916 and hold above it; beyond that, the next level is 0.03012. If 0.02741 breaks, the range shifts down another level. The next funding-rate settlement is at 05:00 Taipei time; only if the reading moves away from the zero line will funding costs be making a clear statement.
We should also leave room for the opposite scenario: in the final hour, price rebounded from 0.02741 but closed only back at the lower end of the range. Since volume hasn’t picked up, a single four-hour candle could change this pattern.
#MarketAnalysis
