$ONE The previous post said that once 0.002137 broke, this move back above the line would give it all back. This four-hour candle really did break below it, with a low of 0.001938, 9.3% below the line. But in the final hour, it rallied 6.63%; the high of 0.00217 briefly crossed back above the line, and it closed at 0.002124, still 0.6% short of it.
The break below the line held, but the accelerated sell-off never followed. This one-hour candle used 23% of the entire four-hour volume just to recover 6.63%—a costly rebound. The 24-hour reading fell from +47.01% to +22.05%. This time, price and the reading both moved down, unlike the previous post, when they moved in opposite directions. 24-hour trading volume was 45.36 million USDT, up from 43.21 million in the previous post, while price was 9.7% lower.
The funding rate was -0.00436%, versus -0.0042% in the previous post—almost the same reading. Despite such a drop below the line, funding costs did not become more extreme.
To call this merely a bounce after breaking below the line, price first needs to close above 0.002137 and hold there. If 0.001938 breaks again, today’s recovery will be given back. Keep the reverse possibility in mind too: if it can rally 6.63% in one hour, it can give that move back in the same amount of time.
#MarketAnalysis
The break below the line held, but the accelerated sell-off never followed. This one-hour candle used 23% of the entire four-hour volume just to recover 6.63%—a costly rebound. The 24-hour reading fell from +47.01% to +22.05%. This time, price and the reading both moved down, unlike the previous post, when they moved in opposite directions. 24-hour trading volume was 45.36 million USDT, up from 43.21 million in the previous post, while price was 9.7% lower.
The funding rate was -0.00436%, versus -0.0042% in the previous post—almost the same reading. Despite such a drop below the line, funding costs did not become more extreme.
To call this merely a bounce after breaking below the line, price first needs to close above 0.002137 and hold there. If 0.001938 breaks again, today’s recovery will be given back. Keep the reverse possibility in mind too: if it can rally 6.63% in one hour, it can give that move back in the same amount of time.
#MarketAnalysis
