$Q Up 28% in a day, now back down to 0.068—can the bulls still expect a rebound?

A 28% gain in a day sounds impressive, but what matters most about this move in Q isn’t how high it peaked—it’s that after surging, the price has already returned to around 0.0687.

Based on the current data, whale longs have an average cost of 0.0794, well above the current price. More concerning, although funds saw net inflows of 185 million over the past 15 days, flows have clearly weakened over the past 4–6 hours.

What does this mean? Strong long-term fund data doesn’t mean anyone is still willing to keep buying in the short term.
Many people are watching the 0.07–0.08 short liquidation zone and think the price will eventually be pushed up. But a liquidation zone is only a potential liquidity area, not a guaranteed target. Without new buyers, betting on a short squeeze based on wishful thinking can easily leave you buying near the top.

I’m watching two levels now: whether 0.0794 can be reclaimed on strong volume, and whether 0.06 will be decisively broken to the downside.

Until the direction becomes clear again, I won’t assume it’s cheap just because it has fallen a lot.

After a surge, the biggest danger isn’t missing out on a buy—it’s mistaking a rebound for a reversal.

#Gate首家推出黄金CFD7X23交易