Luckyluke
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Bullish
Will there be a chance to recover?
57711632421
Portal (PORTAL) from the technology star with a market cap of 400 million is now at risk of delisting with a market cap below 20 million.
Binance reduced the collateral ratio of PORTAL from 20% to 10% on May 30, putting pressure on leveraged positions. The RSI index is oversold (36.68) and has not triggered a recovery amid a weak altcoin market. The trading price is below key moving averages (50-day EMA: $0.0512, 200-day EMA: $0.131), reinforcing the downtrend.
Detailed analysis
1. Main reason: Adjustment of the collateral ratio on Binance
Binance has reduced the collateral ratio of PORTAL in the Portfolio Margin mode twice in May (Binance):
- On May 16: from 35% to 20%
- On May 30: from 20% to 10%
This forces traders to add more collateral or close positions, increasing selling pressure. A low collateral ratio often indicates a declining confidence in the stability of the asset.
2. Technical context
The 14-day RSI is at 36.68 (neutral zone), indicating no strong buying force despite the price being in the oversold area. The MACD chart has turned slightly positive (+0.000648) but is still below zero (-0.00629), indicating weak bullish momentum. The price struggles to maintain above the pivot point of $0.0339, with the next support at the May low of $0.027.
3. Market momentum
Bitcoin's dominance ratio has increased to 64.73% (up 0.76% in the week), causing capital to shift away from altcoins like PORTAL. CoinMarketCap's Altcoin Season Index is at 17/100, in the 'Bitcoin Season' zone, reducing liquidity for smaller market cap coins.
57711632421
Portal (PORTAL) from the technology star with a market cap of 400 million is now at risk of delisting with a market cap below 20 million.
Binance reduced the collateral ratio of PORTAL from 20% to 10% on May 30, putting pressure on leveraged positions. The RSI index is oversold (36.68) and has not triggered a recovery amid a weak altcoin market. The trading price is below key moving averages (50-day EMA: $0.0512, 200-day EMA: $0.131), reinforcing the downtrend.
Detailed analysis
1. Main reason: Adjustment of the collateral ratio on Binance
Binance has reduced the collateral ratio of PORTAL in the Portfolio Margin mode twice in May (Binance):
- On May 16: from 35% to 20%
- On May 30: from 20% to 10%
This forces traders to add more collateral or close positions, increasing selling pressure. A low collateral ratio often indicates a declining confidence in the stability of the asset.
2. Technical context
The 14-day RSI is at 36.68 (neutral zone), indicating no strong buying force despite the price being in the oversold area. The MACD chart has turned slightly positive (+0.000648) but is still below zero (-0.00629), indicating weak bullish momentum. The price struggles to maintain above the pivot point of $0.0339, with the next support at the May low of $0.027.
3. Market momentum
Bitcoin's dominance ratio has increased to 64.73% (up 0.76% in the week), causing capital to shift away from altcoins like PORTAL. CoinMarketCap's Altcoin Season Index is at 17/100, in the 'Bitcoin Season' zone, reducing liquidity for smaller market cap coins.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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