#mrlv
mrlv
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MRVL is now around 211u. There are arguments on both the long and short sides, but neither has gained an advantage.
On the short term, looking at the four-hour chart: there are six candlesticks—four bearish and two bullish. On the daily chart, there is a single bearish candle. In the last 24 hours the price is down nearly 4%, with the current price moving along the 24-hour low around 209. On the 15-minute chart, the dual moving averages are pressing overhead. In terms of the trend, the downside move hasn’t finished yet.
The order book is also not very smooth. On the spot market, sell orders in depth exceed buy orders by more than three times. The supply piled up above is clearly greater than what’s being picked up below. Active trades are also seller-driven, with sell orders pressing through more than buys, so short-term buying demand really isn’t enough.
But the futures market is a different story. Open interest over the day has dropped by more than 15%, and leverage has basically been squeezed out for a round. The funding rate is hovering right around zero—there are no overcrowded longs, and no one is urgently adding to shorts. Put simply, the positions that needed to exit have mostly already exited.
The problem is the “whales.” About 70–80% of the large-account holdings are still sitting on long positions. Over the past 7 hours, the long share has not decreased—it has actually increased. The large accounts didn’t follow retail out; instead, they added a little exposure at lower levels. But the price hasn’t given any response.
So things are quite tangled right now: the market is weak, leverage has been liquidated, funding is back to zero, yet whales are still holding longs. Chasing shorts here isn’t worth it—after a round of decline, the support just below is at 209. Chasing longs also doesn’t make sense—moving averages are pressing overhead, and the sell pressure in the order book hasn’t been fully released. My choice is to wait and see: if price holds 209–210, or if it can break back above the moving averages, then let the funding and positioning provide the first signal.
#mrlv $MRVL
On the short term, looking at the four-hour chart: there are six candlesticks—four bearish and two bullish. On the daily chart, there is a single bearish candle. In the last 24 hours the price is down nearly 4%, with the current price moving along the 24-hour low around 209. On the 15-minute chart, the dual moving averages are pressing overhead. In terms of the trend, the downside move hasn’t finished yet.
The order book is also not very smooth. On the spot market, sell orders in depth exceed buy orders by more than three times. The supply piled up above is clearly greater than what’s being picked up below. Active trades are also seller-driven, with sell orders pressing through more than buys, so short-term buying demand really isn’t enough.
But the futures market is a different story. Open interest over the day has dropped by more than 15%, and leverage has basically been squeezed out for a round. The funding rate is hovering right around zero—there are no overcrowded longs, and no one is urgently adding to shorts. Put simply, the positions that needed to exit have mostly already exited.
The problem is the “whales.” About 70–80% of the large-account holdings are still sitting on long positions. Over the past 7 hours, the long share has not decreased—it has actually increased. The large accounts didn’t follow retail out; instead, they added a little exposure at lower levels. But the price hasn’t given any response.
So things are quite tangled right now: the market is weak, leverage has been liquidated, funding is back to zero, yet whales are still holding longs. Chasing shorts here isn’t worth it—after a round of decline, the support just below is at 209. Chasing longs also doesn’t make sense—moving averages are pressing overhead, and the sell pressure in the order book hasn’t been fully released. My choice is to wait and see: if price holds 209–210, or if it can break back above the moving averages, then let the funding and positioning provide the first signal.
#mrlv $MRVL
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