$ONE In my previous post, I treated 0.001807 as support: breaking below it would mean giving back the entire rebound. It’s now at 0.001737, 3.9% below that level—the price has truly moved past it.
In the four hours after each of the previous two breaks, the price managed to recover by the close: 6.63% one time and 10.71% the other. This time, after breaking below 0.001807, the final hour was -3.50%. The open was also the high, and the price closed at 0.001735, just 1.0% above the hourly low.
The 24-hour change is -26.37%, and this four-hour candle is down 10.52%, with a low of 0.001692. Volume hasn’t expanded along with the drop: four-hour volume was 1.99 billion tokens, compared with 2.37 billion in the candle from my previous post, down 16%. The 24-hour trading volume was 29.75 million USDT, also below the 43.95 million at the time of my previous post.
The funding rate is -0.0305%, compared with -0.0698% in my previous post, so the negative rate has actually narrowed. Price has broken below support, but funding costs haven’t become more extreme.
So I don’t read this as a new acceleration downward. It looks more like the entire gain from the rebound in my previous post has been given back. A break below 0.001692 would be the next step; reclaiming 0.001807 would mean this breakdown has been reversed. To say this slide is over, I’d need to see volume really expand when the price breaks the low.
#MarketAnalysis
In the four hours after each of the previous two breaks, the price managed to recover by the close: 6.63% one time and 10.71% the other. This time, after breaking below 0.001807, the final hour was -3.50%. The open was also the high, and the price closed at 0.001735, just 1.0% above the hourly low.
The 24-hour change is -26.37%, and this four-hour candle is down 10.52%, with a low of 0.001692. Volume hasn’t expanded along with the drop: four-hour volume was 1.99 billion tokens, compared with 2.37 billion in the candle from my previous post, down 16%. The 24-hour trading volume was 29.75 million USDT, also below the 43.95 million at the time of my previous post.
The funding rate is -0.0305%, compared with -0.0698% in my previous post, so the negative rate has actually narrowed. Price has broken below support, but funding costs haven’t become more extreme.
So I don’t read this as a new acceleration downward. It looks more like the entire gain from the rebound in my previous post has been given back. A break below 0.001692 would be the next step; reclaiming 0.001807 would mean this breakdown has been reversed. To say this slide is over, I’d need to see volume really expand when the price breaks the low.
#MarketAnalysis
