Is $STRAX at $0.0104 setting up a reversal, or is this just another weak bounce?
I’m leaning bearish for now. Down 7.63% today, with $1.25M volume, and the last 4h window dropped another 4.5%. RSI is only 48, but volume is sitting at 0.3x its 20d average.
That is thin.
Price is still below the 20d and 50d averages, while futures funding is 0.000% with longs paying. Even $BNB strength isn’t doing much for this chart.
At $0.0100, I’d watch for a clean hold. If it loses that level, I’m not chasing a bounce. 📉
#STRAX #Crypto
I’m leaning bearish for now. Down 7.63% today, with $1.25M volume, and the last 4h window dropped another 4.5%. RSI is only 48, but volume is sitting at 0.3x its 20d average.
That is thin.
Price is still below the 20d and 50d averages, while futures funding is 0.000% with longs paying. Even $BNB strength isn’t doing much for this chart.
At $0.0100, I’d watch for a clean hold. If it loses that level, I’m not chasing a bounce. 📉
#STRAX #Crypto