$EDGE Shorts on the top gainers: each high is lower than the last, and the longs who chased in last night are still stuck, with resistance overhead
Up about 16.5% in 24h, with roughly 115 million U in volume. I couldn’t find any new announcements from the project team on X, so this is based on the order book. From 20:00 last night to 01:00 today, volume surged as the price climbed to 0.4472. During that stretch, OI rose from about 17.62 million to 23.70 million contracts, adding more than 30% to open positions. Over the following 15 hours, the price fell back to around 0.393, but OI barely changed. Most longs are stuck between 0.40 and 0.44.
Hourly highs have stepped down: 0.4472, 0.4265, 0.4248, 0.4242, 0.4136, 0.4054. Volume has shrunk from 15 million U per hour to around 2 million. About 62% of accounts are long, and the funding rate has stayed positive, so longs are paying to hold their positions.
Bearish trigger: a break below the range floor at 0.385 (which held twice, at 01:00 and 15:00) alongside a drop in OI. Stop-losses from trapped longs could amplify the decline. Invalidation: if price reclaims 0.4242 on rising volume, shorts shouldn’t stubbornly hold on. Price is now very close to the range floor, so chasing shorts offers an average risk/reward ratio; waiting for a breakdown is safer.
Do you think these trapped longs will cut their losses, or wait for a rebound to break even?
#EDGE高点下移 #LongsPayToHoldPositions
Up about 16.5% in 24h, with roughly 115 million U in volume. I couldn’t find any new announcements from the project team on X, so this is based on the order book. From 20:00 last night to 01:00 today, volume surged as the price climbed to 0.4472. During that stretch, OI rose from about 17.62 million to 23.70 million contracts, adding more than 30% to open positions. Over the following 15 hours, the price fell back to around 0.393, but OI barely changed. Most longs are stuck between 0.40 and 0.44.
Hourly highs have stepped down: 0.4472, 0.4265, 0.4248, 0.4242, 0.4136, 0.4054. Volume has shrunk from 15 million U per hour to around 2 million. About 62% of accounts are long, and the funding rate has stayed positive, so longs are paying to hold their positions.
Bearish trigger: a break below the range floor at 0.385 (which held twice, at 01:00 and 15:00) alongside a drop in OI. Stop-losses from trapped longs could amplify the decline. Invalidation: if price reclaims 0.4242 on rising volume, shorts shouldn’t stubbornly hold on. Price is now very close to the range floor, so chasing shorts offers an average risk/reward ratio; waiting for a breakdown is safer.
Do you think these trapped longs will cut their losses, or wait for a rebound to break even?
#EDGE高点下移 #LongsPayToHoldPositions
