$REZ this wave I’m biased bearish, don’t buy the rebound for now. After topping at 0.004186, the price returned to around 0.00366; the real support will depend on whether 0.00364 can hold.
In the past 24 hours, spot only rose 1.30%, but after the 19:00 one-hour breakout with increased volume, there was a continuous pullback from 23:00 to 00:00. Over the last 8 hours, open interest fell by 3.2%, and in the past 1 hour, active buy/sell was only 0.68. When the price rebounded, positions actually shrank—suggesting the buying is more like short-covering and turnover, not sustained accumulation by new longs. The funding rate is about +0.0001%, so there’s almost no directional subsidy. Overall longs are 48.9%, and longs among top accounts are about 55.9%; divergence remains.
My key observation levels: If, on the 15-minute chart, volume spikes and price pulls back above 0.00384, then the short-term weakness can be considered turned around. If 0.00364 is broken through by the real body, the probability of further downside increases—don’t treat a single green K as a reversal. What matters more to you: price confirmation at 0.00384, or OI expanding again? #REZ #Renzo #contract data
In the past 24 hours, spot only rose 1.30%, but after the 19:00 one-hour breakout with increased volume, there was a continuous pullback from 23:00 to 00:00. Over the last 8 hours, open interest fell by 3.2%, and in the past 1 hour, active buy/sell was only 0.68. When the price rebounded, positions actually shrank—suggesting the buying is more like short-covering and turnover, not sustained accumulation by new longs. The funding rate is about +0.0001%, so there’s almost no directional subsidy. Overall longs are 48.9%, and longs among top accounts are about 55.9%; divergence remains.
My key observation levels: If, on the 15-minute chart, volume spikes and price pulls back above 0.00384, then the short-term weakness can be considered turned around. If 0.00364 is broken through by the real body, the probability of further downside increases—don’t treat a single green K as a reversal. What matters more to you: price confirmation at 0.00384, or OI expanding again? #REZ #Renzo #contract data