$PROM — NEW LOW, BUT THE STRUCTURE IS GETTING INTERESTING.
PROM is now trading around $5.41 after printing a new 24H low at $5.224.
The last hour has been relatively calm: price is only down about 0.24%, with roughly $100K spot volume on Binance.
Futures open interest also recovered back toward $16.8M after briefly dropping near $16.26M.
My read:
The market flushed lower, but there is no fresh acceleration in selling right now.
The key zone is now $5.22–$5.30.
Hold it → stabilization is still possible.
Break it with volume → the sell-off extends.
Reclaim $5.50–$5.60 → first meaningful recovery signal.
The thesis changes with the data.
$PROM #PROM #BigBangThesis
PROM is now trading around $5.41 after printing a new 24H low at $5.224.
The last hour has been relatively calm: price is only down about 0.24%, with roughly $100K spot volume on Binance.
Futures open interest also recovered back toward $16.8M after briefly dropping near $16.26M.
My read:
The market flushed lower, but there is no fresh acceleration in selling right now.
The key zone is now $5.22–$5.30.
Hold it → stabilization is still possible.
Break it with volume → the sell-off extends.
Reclaim $5.50–$5.60 → first meaningful recovery signal.
The thesis changes with the data.
$PROM #PROM #BigBangThesis