SKR This drop is a bit brutal—over the past 24 hours it directly shed 16 points. The current price is 0.007785, and the chart looks a little cold.
The three Bollinger Bands lines are basically moving sideways, forming a typical ranging structure. Price is hovering below the middle band; %B is at 0.36. It’s not far from the lower band, but it isn’t sticking to it either—more like grinding around the lower-middle area. Another bearish candle was dumped in the last 15 minutes, down about 2%. Volume hasn’t expanded significantly; it’s roughly in line with the recent average volume. I didn’t see panic sell orders surging in, but there also isn’t much enthusiasm from buyers.
The funding rate is negative at -0.21%, which suggests short positions have a relatively higher holding cost—shorts are effectively paying longs. At this level, shorts look a bit crowded. Open interest has shrunk sharply: over the past 24 hours, the number of warrants/positions fell by 29%. Contract funds are clearly moving out, and market sentiment is cautious. The long-to-short account ratio is 1.77. Long accounts still make up the majority, but the price hasn’t really shown much respect—things feel kind of stuck.
Overall: the decline was sharp, funds are pulling out, short funding costs are high, and although there are more longs, the order book isn’t moving much. In this ranging structure, price keeps grinding back and forth just below the middle band, and the shorter time frame also lacks volume confirmation. For reference only and does not constitute investment advice.
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