$NEAR 4.33. It took fourteen days to fall back from six dollars.
It wasn't the product that fell, but the leverage that pushed it up.
The 2 p.m. hourly candle saw 4.97 million tokens traded, while the previous twelve were around one million each.
Open interest fell only half a percent.
A real liquidation cascade would have wiped out positions.
This wasn't one.
The key level is 4.25.
That was the low of the October 24 daily candle. This afternoon's sell-off came down and stopped right on it. It's the second test in five days, and it still hasn't broken.
Intents did 10.4 billion in Q3, and spent 8 million on buybacks.
The token price is retreating, but the product is moving forward.
Hold above 4.25 and look back to 4.75; break below 4.25 and 3.60 is next.
$BTC is also retreating, and $ETH is retreating even more.
Will this level hold?
Hard to say.
I'm watching the close at 4.25. Don't force a trade in the middle.
#比特币 #BinanceSquare
It wasn't the product that fell, but the leverage that pushed it up.
The 2 p.m. hourly candle saw 4.97 million tokens traded, while the previous twelve were around one million each.
Open interest fell only half a percent.
A real liquidation cascade would have wiped out positions.
This wasn't one.
The key level is 4.25.
That was the low of the October 24 daily candle. This afternoon's sell-off came down and stopped right on it. It's the second test in five days, and it still hasn't broken.
Intents did 10.4 billion in Q3, and spent 8 million on buybacks.
The token price is retreating, but the product is moving forward.
Hold above 4.25 and look back to 4.75; break below 4.25 and 3.60 is next.
$BTC is also retreating, and $ETH is retreating even more.
Will this level hold?
Hard to say.
I'm watching the close at 4.25. Don't force a trade in the middle.
#比特币 #BinanceSquare
