At 9:15 this morning, $UAI a 15-minute candle plunged from around 0.130 to 0.086, with the low for that hour reaching 0.0759. Go back another 31 hours, to 2 a.m. on Nov. 7 (UTC+8): it had just fallen from 0.235 to close at 0.113, after reaching a high above 0.25.
The current price is around 0.0799, down about 43% over 24 hours, with roughly 86.3 million U in trading volume. I couldn't find any project announcement that would explain this morning's bearish candle.
The unusual part is the positioning: before the selloff at 9 a.m. UTC+8, there were about 51.8 million tokens in open positions; now there are about 78.7 million, up roughly 52% in a little over four hours. On the account side, longs are still at around 72%. The price has been cut by 40%, yet new positions keep piling in.
I'm bearish on this rebound. New longs are still open around 0.08, and positions keep growing, which suggests dip-buyers haven't given up. If open positions start declining while the price returns to around 0.13, then this is worth reassessing.
#UAI $UAI
The current price is around 0.0799, down about 43% over 24 hours, with roughly 86.3 million U in trading volume. I couldn't find any project announcement that would explain this morning's bearish candle.
The unusual part is the positioning: before the selloff at 9 a.m. UTC+8, there were about 51.8 million tokens in open positions; now there are about 78.7 million, up roughly 52% in a little over four hours. On the account side, longs are still at around 72%. The price has been cut by 40%, yet new positions keep piling in.
I'm bearish on this rebound. New longs are still open around 0.08, and positions keep growing, which suggests dip-buyers haven't given up. If open positions start declining while the price returns to around 0.13, then this is worth reassessing.
#UAI $UAI