Just took a peek at the charts for $KGEN , and my head started buzzing—dropping straight from 0.20 to 0.15, that drop, seasoned traders know the taste of that. The 24-hour trading volume is close to $7 million, but the price keeps sliding down, indicating that someone is picking up the scraps at the bottom, but it’s not a strong hand; it’s all retail panic buys propping it up.
The funding rate is still positive, at +0.0224%. It doesn't seem high, but with the price falling and the rate still positive, what does that mean? The bulls are still holding out; they haven't been fully liquidated. Those paying the funding rate and stubbornly holding on are the fuel for the next wave of panic selling. As long as the rebound is weak, a long squeeze is just around the corner.
Is there support at 0.15? Yes, but from the volume, it’s a fragile support. The bearish trend isn’t over; don’t rush to catch a falling knife. This isn’t the time to buy the dip; wait until the panic selling is over and the funding rate turns negative before considering it.
Don’t believe me? Try placing a buy order at 0.14 and see if you can snag it tonight. Leave a price in the comments, and come back to see if I was right.
#KGEN
The funding rate is still positive, at +0.0224%. It doesn't seem high, but with the price falling and the rate still positive, what does that mean? The bulls are still holding out; they haven't been fully liquidated. Those paying the funding rate and stubbornly holding on are the fuel for the next wave of panic selling. As long as the rebound is weak, a long squeeze is just around the corner.
Is there support at 0.15? Yes, but from the volume, it’s a fragile support. The bearish trend isn’t over; don’t rush to catch a falling knife. This isn’t the time to buy the dip; wait until the panic selling is over and the funding rate turns negative before considering it.
Don’t believe me? Try placing a buy order at 0.14 and see if you can snag it tonight. Leave a price in the comments, and come back to see if I was right.
#KGEN