$CAP broke out on surging volume, reaching a new 48-hour high; trading volume increased 24-fold
When I mentioned it in my previous post, $CAP was still at 0.0836. It has now reached 0.0918, up nearly 10% in 2 hours. The 20:00 1-hour candle gained 12.6%, breaking straight through the previous 48-hour high of 0.0781. 1-hour trading volume was 9.51M, 24.6 times the average, with aggressive buying accounting for 0.527.
Key points: In the past 12 hours, two 1-hour candles have closed above new highs. This is a stair-step increase in volume, with funds pushing the price higher layer by layer. Coin-margined open interest rose 6.5% over 1 hour and 7.8% over 4 hours; positions in perpetual contracts are still increasing.
Next, watch whether it can hold above 0.0866 (the closing price of this breakout 1-hour candle). Holding there would mean the trend continues; falling back below 0.078 would mean the breakout has failed. It has already risen quite a bit, and the funding rate is elevated, so beware of a pullback if chasing the price.
The breakout is confirmed, and volume is still strong. Keep an eye on $CAP .
This is not investment advice.
When I mentioned it in my previous post, $CAP was still at 0.0836. It has now reached 0.0918, up nearly 10% in 2 hours. The 20:00 1-hour candle gained 12.6%, breaking straight through the previous 48-hour high of 0.0781. 1-hour trading volume was 9.51M, 24.6 times the average, with aggressive buying accounting for 0.527.
Key points: In the past 12 hours, two 1-hour candles have closed above new highs. This is a stair-step increase in volume, with funds pushing the price higher layer by layer. Coin-margined open interest rose 6.5% over 1 hour and 7.8% over 4 hours; positions in perpetual contracts are still increasing.
Next, watch whether it can hold above 0.0866 (the closing price of this breakout 1-hour candle). Holding there would mean the trend continues; falling back below 0.078 would mean the breakout has failed. It has already risen quite a bit, and the funding rate is elevated, so beware of a pullback if chasing the price.
The breakout is confirmed, and volume is still strong. Keep an eye on $CAP .
This is not investment advice.