$UAI has had five consecutive red daily candles.
I went through the daily closing prices one by one. It plunged all the way from 0.3073 to 0.0786—that’s how brutal this sell-off was.
Today it climbed back up. That’s what I call a survivor.
Over the past 24 hours, the high was 0.1186 and the low was 0.0731, for an intraday range of 62.2%. In a single hourly candle, 93 million tokens changed hands, moving from the bottom to higher levels.
Measured against the 20-day range, it’s sitting at just 10.96% of the way from 0.0731 to 0.3341. There was no support on the way down, and there isn’t much existing supply below to prop it up on the way back either.
The number of open contracts is down 4.03% from 24 hours ago, but notional value is up 15.79%—like someone packing up while still pushing the price higher.
The broader market hasn’t been a drag either. $BTC is up 3.099% over 24 hours, and $ETH is up 5.400%.
Both are above the midpoint of their 20-day ranges, which is a very different picture from this one climbing out of a hole.
At first glance, I thought I’d misread it. I checked twice before believing it. Daily volatility has already reached 49.84%; a single candle wiping out half your position is the norm.
What do you all think? Is this a lull after the move has played out, or has it only just begun?
#UAI #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of data, and does not constitute investment advice.
I went through the daily closing prices one by one. It plunged all the way from 0.3073 to 0.0786—that’s how brutal this sell-off was.
Today it climbed back up. That’s what I call a survivor.
Over the past 24 hours, the high was 0.1186 and the low was 0.0731, for an intraday range of 62.2%. In a single hourly candle, 93 million tokens changed hands, moving from the bottom to higher levels.
Measured against the 20-day range, it’s sitting at just 10.96% of the way from 0.0731 to 0.3341. There was no support on the way down, and there isn’t much existing supply below to prop it up on the way back either.
The number of open contracts is down 4.03% from 24 hours ago, but notional value is up 15.79%—like someone packing up while still pushing the price higher.
The broader market hasn’t been a drag either. $BTC is up 3.099% over 24 hours, and $ETH is up 5.400%.
Both are above the midpoint of their 20-day ranges, which is a very different picture from this one climbing out of a hole.
At first glance, I thought I’d misread it. I checked twice before believing it. Daily volatility has already reached 49.84%; a single candle wiping out half your position is the norm.
What do you all think? Is this a lull after the move has played out, or has it only just begun?
#UAI #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of data, and does not constitute investment advice.
