$ESPORTS 5-minute trading volume reached 21 times its usual level, with the current price just above the previous high
From around 0.0115 to 0.01215, this 15-minute candle saw about 3.2 million U in trading volume, while coin-margined open interest rose 8.6% in 1 hour.
My take: It’s a small-cap with a market cap of around 11 million. Volume and open interest are rising together, and it was already in the pool. But the funding rate has reached +0.12%, and the account long/short ratio is 3.4. Retail longs are getting crowded, and it’s also up nearly 29% in 24 hours, so if buying support weakens, a pullback could come easily.
Holding above 0.01215 would count as confirmation; dropping back below 0.0115 would mean it was a false move.
Do you think this move by $ESPORTS is a breakout or a spike after things got crowded? Share your thoughts in the comments.
#ESPORTS #山寨币 #Futures
This is not investment advice
From around 0.0115 to 0.01215, this 15-minute candle saw about 3.2 million U in trading volume, while coin-margined open interest rose 8.6% in 1 hour.
My take: It’s a small-cap with a market cap of around 11 million. Volume and open interest are rising together, and it was already in the pool. But the funding rate has reached +0.12%, and the account long/short ratio is 3.4. Retail longs are getting crowded, and it’s also up nearly 29% in 24 hours, so if buying support weakens, a pullback could come easily.
Holding above 0.01215 would count as confirmation; dropping back below 0.0115 would mean it was a false move.
Do you think this move by $ESPORTS is a breakout or a spike after things got crowded? Share your thoughts in the comments.
#ESPORTS #山寨币 #Futures
This is not investment advice
