$ESPORTS down, target $0.0079. Above $0.0096 I'm wrong.
It ran from $0.0071 to $0.0103 in twelve hours, then printed $0.0101 and traded down to $0.0081 in one hour on $1.5B of volume. Open interest is still up 79% over 24 hours even after dropping 18.9% in the last hour.
Funding did not wash out. It is still +0.054% per 4h, so longs pay about 0.32% a day to hold a position already 14% below its high. The long/short ratio fell from 5.80 to 2.76 and price never recovered.
Below $0.0079 this keeps unwinding. Which comes first, $0.0079 or $0.0096?
It ran from $0.0071 to $0.0103 in twelve hours, then printed $0.0101 and traded down to $0.0081 in one hour on $1.5B of volume. Open interest is still up 79% over 24 hours even after dropping 18.9% in the last hour.
Funding did not wash out. It is still +0.054% per 4h, so longs pay about 0.32% a day to hold a position already 14% below its high. The long/short ratio fell from 5.80 to 2.76 and price never recovered.
Below $0.0079 this keeps unwinding. Which comes first, $0.0079 or $0.0096?
