$ICNT 1h closed at a new high, up 35% in 24 hours
At 23:00, this 1h candle rose 6.3% and closed at 0.3027, above the previous 48h high of 0.295; trading volume was about 8.62 million U, nearly 5x the usual volume, and open interest rose 11% in 1h.
My take: Over the past 12 hours, four 1h candles have closed above new highs. The stepwise increase in volume is still continuing, and 4h open interest is up 9.5%. But compared with my first alert at 18:00, at 0.279, the price is already another 7% higher. It has risen 50% from the 72h low, and the negative funding rate suggests longs are getting crowded, so the risk of a pullback if you chase the high is significant.
A sustained hold above 0.295 would confirm the move; a drop back below 0.28 would make it a false breakout.
Do you think $ICNT can push higher? Share your thoughts in the comments.
#ICNT #山寨币 #Futures
Not investment advice
At 23:00, this 1h candle rose 6.3% and closed at 0.3027, above the previous 48h high of 0.295; trading volume was about 8.62 million U, nearly 5x the usual volume, and open interest rose 11% in 1h.
My take: Over the past 12 hours, four 1h candles have closed above new highs. The stepwise increase in volume is still continuing, and 4h open interest is up 9.5%. But compared with my first alert at 18:00, at 0.279, the price is already another 7% higher. It has risen 50% from the 72h low, and the negative funding rate suggests longs are getting crowded, so the risk of a pullback if you chase the high is significant.
A sustained hold above 0.295 would confirm the move; a drop back below 0.28 would make it a false breakout.
Do you think $ICNT can push higher? Share your thoughts in the comments.
#ICNT #山寨币 #Futures
Not investment advice
