$XTZ Shorts are paying longs: funding rate -0.368%, the 2nd highest across the market.
My take: short positions are crowded, and the cost of holding them is still accumulating.
0.271 below (15m structural level · tested 3 times) is the nearest support; if positions on the crowded side are cut all at once, the price is more likely to move in the direction of deleveraging.
#XTZ #Cryptocurrency
Being number one in funding rates doesn’t mean an immediate reversal. What do you think?
My take: short positions are crowded, and the cost of holding them is still accumulating.
0.271 below (15m structural level · tested 3 times) is the nearest support; if positions on the crowded side are cut all at once, the price is more likely to move in the direction of deleveraging.
#XTZ #Cryptocurrency
Being number one in funding rates doesn’t mean an immediate reversal. What do you think?
