$XMR Longs on the losers leaderboard: down nearly 10%, but no one has been liquidated. Longs are still paying fees—don't catch this slow bleed just yet.
Down about 8.6% over 24 hours, with roughly 62 million U in volume. I couldn't find any new Monero-related news on X, so this is based on the order book. After touching 604.85 at 23:00 yesterday, the price slid steadily. Today, it dropped in three high-volume steps at 07:00, 10:00, and 17:00–18:00. It's now around 543.87, having just hit a new low of 540.16.
The key is OI: the number of contracts has barely changed, slipping from about 91,000 yesterday to around 88,000 now. The drop hasn't flushed out longs through liquidations, nor have shorts piled in aggressively. It looks more like gradual spot selling. Funding rates have remained positive for the past four periods (0.01% to 0.05%), and about 57% of accounts are long. Longs are losing money and paying fees at the same time. By comparison, ZEC is down about 4.8% over the same period, so XMR is weaker.
Conditions for a bottom: OI drops significantly, completing a flush-out, or the price reclaims 557.5 on high volume (today's 15:00 low). Invalidation: if the price breaks below 540 and OI starts rising, that would suggest shorts are piling in to press the move, leaving more room to fall.
#XMR无爆仓阴跌 #Longs are still paying funding
Down about 8.6% over 24 hours, with roughly 62 million U in volume. I couldn't find any new Monero-related news on X, so this is based on the order book. After touching 604.85 at 23:00 yesterday, the price slid steadily. Today, it dropped in three high-volume steps at 07:00, 10:00, and 17:00–18:00. It's now around 543.87, having just hit a new low of 540.16.
The key is OI: the number of contracts has barely changed, slipping from about 91,000 yesterday to around 88,000 now. The drop hasn't flushed out longs through liquidations, nor have shorts piled in aggressively. It looks more like gradual spot selling. Funding rates have remained positive for the past four periods (0.01% to 0.05%), and about 57% of accounts are long. Longs are losing money and paying fees at the same time. By comparison, ZEC is down about 4.8% over the same period, so XMR is weaker.
Conditions for a bottom: OI drops significantly, completing a flush-out, or the price reclaims 557.5 on high volume (today's 15:00 low). Invalidation: if the price breaks below 540 and OI starts rising, that would suggest shorts are piling in to press the move, leaving more room to fall.
#XMR无爆仓阴跌 #Longs are still paying funding
