$ONE In my last post, I treated 0.001486 as the threshold for the next leg, with one condition: watch the volume at the moment it breaks below. This time, price actually moved through it: the four-hour low was 0.001461 and the close was 0.001466, almost right at the low. Volume on this four-hour candle was 1.034 billion tokens, up about 40% from the previous candle’s 736 million.
This is the first high-volume break below the level in this entire decline. On the previous breaks, price managed to recover in the final hour; not this time. The low was made in that final hour.
But the volume spike was limited to this one candle. The 24-hour trading volume was 10.34 million USDT, 13% below the 11.92 million at the time of my last post. The funding rate was -0.0402%, compared with +0.0043% in my last post—a move from above zero to below it, but both readings are still small in magnitude.
So I read this as a confirmed break below the level, with real momentum behind it this time, but not yet an acceleration across the whole move. A close back above 0.001486 and holding there would mean this break has been reversed; another break below 0.001461 with volume holding up would mark the next leg. This candle’s range was only 5.5% wide, so one four-hour candle could give back the entire move just as easily.
#MarketAnalysis
This is the first high-volume break below the level in this entire decline. On the previous breaks, price managed to recover in the final hour; not this time. The low was made in that final hour.
But the volume spike was limited to this one candle. The 24-hour trading volume was 10.34 million USDT, 13% below the 11.92 million at the time of my last post. The funding rate was -0.0402%, compared with +0.0043% in my last post—a move from above zero to below it, but both readings are still small in magnitude.
So I read this as a confirmed break below the level, with real momentum behind it this time, but not yet an acceleration across the whole move. A close back above 0.001486 and holding there would mean this break has been reversed; another break below 0.001461 with volume holding up would mark the next leg. This candle’s range was only 5.5% wide, so one four-hour candle could give back the entire move just as easily.
#MarketAnalysis
