$ON The invalidation level I wrote down at noon, 0.0937, was decisively broken on heavy volume at 17:00. OI has risen another 20%, so it’s not advisable to rush into buying the dip.
At 16:00, the price had still bounced from 0.0934 to 0.0967. At 17:15, a five-minute candle saw about 1.17 million U in selling, driving the price from 0.093 to 0.0881. The full hour from 17:00 saw about 4.6 million U in volume as the price fell below 0.0937. Volume then tapered off from 18:00 to 19:00, with the price probing a daily low of 0.0851. It’s now around 0.0856 (down about 26.8% over 24 hours; volume about 70.5 million U). OI was about 74.61 million contracts at 12:00, about 84.55 million during the 17:00 sell-off, and is now about 90.44 million. It has continued rising since the breakdown, up about 21% from noon. The long positions among accounts edged down from about 65% to 64.5%, while large-trader positions fell from about 61% to 60%. Crowding has not worsened further. The funding rate at the 20:00 settlement is still +0.005%, which is not expensive for a four-hour interval. The invalidation level has been decisively breached on heavy volume, and the contract count is still climbing, so it’s not advisable to rush into buying the dip. To confirm a bottom, look for heavy volume to hold 0.0851 and reclaim 0.0937. If heavy volume breaks below 0.0851 again and the contract count keeps rising, support has failed. The official account posted an opinion on on-chain financial privacy at 16:55, which doesn’t explain this high-volume breakdown.
#ON失效位被砸穿 #OI rises again after the breakdown
At 16:00, the price had still bounced from 0.0934 to 0.0967. At 17:15, a five-minute candle saw about 1.17 million U in selling, driving the price from 0.093 to 0.0881. The full hour from 17:00 saw about 4.6 million U in volume as the price fell below 0.0937. Volume then tapered off from 18:00 to 19:00, with the price probing a daily low of 0.0851. It’s now around 0.0856 (down about 26.8% over 24 hours; volume about 70.5 million U). OI was about 74.61 million contracts at 12:00, about 84.55 million during the 17:00 sell-off, and is now about 90.44 million. It has continued rising since the breakdown, up about 21% from noon. The long positions among accounts edged down from about 65% to 64.5%, while large-trader positions fell from about 61% to 60%. Crowding has not worsened further. The funding rate at the 20:00 settlement is still +0.005%, which is not expensive for a four-hour interval. The invalidation level has been decisively breached on heavy volume, and the contract count is still climbing, so it’s not advisable to rush into buying the dip. To confirm a bottom, look for heavy volume to hold 0.0851 and reclaim 0.0937. If heavy volume breaks below 0.0851 again and the contract count keeps rising, support has failed. The official account posted an opinion on on-chain financial privacy at 16:55, which doesn’t explain this high-volume breakdown.
#ON失效位被砸穿 #OI rises again after the breakdown
