$IN After a 17% rally, can you still chase? The Fear and Greed Index is maxed out at 78, the funding rate across the network has turned to 0.03%, and the last time it hit such a turning point, it crashed 40%.

Let's talk about the immediate data: IN is currently at 0.1269, with a 24-hour high of 0.1296 from a low of 0.1079, and the trading volume is heading straight for $30 million. A 17% gain in 24 hours looks beautiful, but the market is clearly overheating — the funding rate turned positive from negative yesterday to 0.03%, indicating that long positions are leveraging up and sweeping the order books. This is exactly the same as when I observed INS around 0.08 last December, when the funding rate hit 0.05% and then the price fell back to 0.05 in three days. Now the Fear and Greed Index is at 78, far from extreme fear at 22, but just one step away from greed's limit of 95.
Historical reference: IN also rallied 25% for three consecutive days to 0.12 last November, when the funding rate surged to 0.04%, followed by a two-week pullback to 0.08. Now the sentiment indicator is even higher than back then, but the trading volume is only 20% higher — a classic divergence between price and volume. If you are already holding a position, you may consider placing partial profit-taking orders around 0.132 and a stop loss at 0.118 (below the 24-hour low). For those wanting to chase the rally, don’t rush; wait until the funding rate falls below 0.01% or the price returns to 0.112-0.115 before considering, as that offers better cost-effectiveness.
The turning point signals are obvious this time: a spike in funding rate + high turnover rate paired with a 17% gain, and short-term profit-taking positions have accumulated. Unless the broader market crashes, emotional turning points tend to form within 2-3 days. If you have a position in IN, it is recommended to start setting up partial profit-taking today. Entry positions are only recommended after emotions cool down, otherwise it's easy to catch a falling knife. Emotional turning point = best entry. Follow me for weekly updates on extreme funding rate tracking.