The last 24 hours have brought local optimism to 0G token investors — the price bounced back by +4.25%, settling around 0.304 USDT. However, a deep dive into the futures market and the behavior of the 'whales' indicates that it's too early to celebrate. Overall control of the asset remains in the hands of the bears.
Let's break down what's happening behind the charts.
📉 Total domination of shorts: the numbers don’t lie
A key indicator to watch is the nominal Long/Short ratio among whales, which sits at a critically low 28.5%. This indicates a colossal imbalance of power.
Bearish fist (Shorters): 152–155 major players are firmly holding sell positions with a total volume of 1.67 million USDT. Their average entry price is ~0.4145 USDT. Currently, their unrealized profit (PNL) exceeds +$600,000. They fully control the mid-term trend and feel no pressure at all.
Weakness of bulls (Longers): Only 65–69 whales are sitting in longs with a total volume of about 477k USDT. Moreover, their average entry price is ~0.3229 USDT, meaning all local long capital is currently in the red (-$30,000) and locked in drawdown.
⏱ Timeframe dynamics: the bounce is stalling
Looking at the trading structure over the last day (24h), buyers did indeed dominate — the net buying volume was 447K USDT against 174K USDT in sales. This influx of capital is what drove the daily price increase.
However, the fresh hourly cut (1h) shows that the situation is turning 180 degrees:
Net selling volume for the hour: 29.87K USDT (67 whales).
Net buying volume for the hour: total 7.07K USDT (27 whales).
Big players have started using the local price increase to open new short positions or to lock in losses from failed longs. Seller pressure on the micro-timeframe again exceeds buying power by 4 times.
🔮 Short-term forecast and levels
Currently, the zone of 0.315 – 0.323 USDT (where losing long positions of whales are concentrated) acts as a solid resistance level. As we approach these values, the market will encounter mass sell-offs.
Priority scenario: The local upward impulse has exhausted itself. A return to the bearish trend is expected soon, with testing of local lows in the zone of 0.28 – 0.29 USDT.
Alternative (Short squeeze): A full reversal upwards is only possible with a strong impulse in the spot market that can push the price above 0.33 USDT and force shorters to panic close their positions. Currently, there isn't enough fuel (liquidity) in the market for such a scenario.
⚠️ Conclusion: The current rise of 0GUSDT looks like a classic 'dead cat bounce' in a bearish market. Opening long positions at current levels carries increased risks.
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