Penguins offer signs of life after external flows of $ 70 million – bulls work to additional work? star-news.press/wp

Main meals

Liquidity has reduced $ 70 million in penguin gains, but the financing rates remained positive. The conflicting signals let the traders wonder whether the declining pressure fades or not.

The external flow of liquidity in the market led to the loss of penguins (penguins) more than 9 % in 24 hours, reducing its monthly performance to 23 % until the time of the press.

However, the analysis showed signs of increased oud activity, which can flip the downtown external flow and put the penguin to get the highest new level.

Night forces in liquidity decrease the penguin

The low price of the penguin was closely related to the market leaving the market. In just one day, the external flow reached approximately $ 70 million, while the open interest Coinglass He decreased to 332.66 million dollars.

This decrease indicated that both long and short merchants are retreating from the market. Long traders closed more sites than short pants, with qualifiers on the long side significantly last day.

Source: Coinglass

At the same time, the financing rate decreased sharply. To be detailed, the suggestive financing rate of OI decreased from 0.0265 % to 0.0063 %-which confirms that many long merchants are no longer active.

Despite the external flow, OI’s weighted financing rate remained in a positive area, indicating that the upward interest is still on the market.

Buyers remain active despite pressure

Coinglass Spot Exchange Netflow showed that investors are still actively buying.

During the past 72 hours, investors bought more than $ 14.5 million from the penguin and transferred assets to private portfolios. This trend suggested fewer symbols available on potential sale exchanges.

Source: TradingView

On the graph, Pengu is close to the main support level within the loud triangle style, creating a possibility of recovery.

In fact, the structure of the graph indicated a small possible decrease before recovery.

Confirm the setting from Drop-To-LALY

Technical indicators confirm this feeling.

Chaikin Money Flow (CMF) highlights a gradual increase in the purchase size, with 0.04 reading. This upward trend indicates that the upscale activity will likely continue.

Source: TradingView

Meanwhile, the average trend index (ADX) decreased to 20.91, indicating that the declining momentum was weak. When the price is different from ADX, it often indicates a lack of strength in the direction, which provokes the possibility of reflection.

In general, despite the external flow of liquidity, the upscale feelings were growing, indicating that the Haboodian stage was probably temporary.