$HOT The post from four hours ago said the 0.00046 level still hadn't been cleared. This four-hour candle reached a high of 0.000498, 8.3% above that level, but couldn't hold there: the final hour fell 8.54%, and the current price is 0.000451, back 2.0% below the level. The full four-hour range was 19.4%, while the net change was only -1.10%.
Volume really came in. This four-hour candle saw 5.33 billion tokens traded, 2.36 times the 2.26 billion in the previous candle. The 24-hour trading volume was 11.78 million USDT, also higher than the 9.28 million at the time of the previous post. With volume expanding this much, the price still circled back to near the open over four hours—the buying pressure didn't translate into a higher price.
The funding rate is -0.5358%, down further into negative territory from the previous reading of -0.47%. The price has fallen back below the level, while funding costs have become even more one-sided. The two aren't lining up.
So the 0.00046 level still hasn't been cleared; this time, though, it left behind an upper wick. If the price closes above 0.00046 and holds, this surge was just a spike. If the four-hour low of 0.000417 breaks, the entire 19.4% range could turn downward. The 24-hour gain of 28.86% came from the earlier rise and should be viewed separately from this candle's four-hour decline of 1.10%.
#MarketHotspot
Volume really came in. This four-hour candle saw 5.33 billion tokens traded, 2.36 times the 2.26 billion in the previous candle. The 24-hour trading volume was 11.78 million USDT, also higher than the 9.28 million at the time of the previous post. With volume expanding this much, the price still circled back to near the open over four hours—the buying pressure didn't translate into a higher price.
The funding rate is -0.5358%, down further into negative territory from the previous reading of -0.47%. The price has fallen back below the level, while funding costs have become even more one-sided. The two aren't lining up.
So the 0.00046 level still hasn't been cleared; this time, though, it left behind an upper wick. If the price closes above 0.00046 and holds, this surge was just a spike. If the four-hour low of 0.000417 breaks, the entire 19.4% range could turn downward. The 24-hour gain of 28.86% came from the earlier rise and should be viewed separately from this candle's four-hour decline of 1.10%.
#MarketHotspot
