Red Sweep Across the Board; UNI the Volatility Standout, AVAX Sees Position Reset, XRP Sits on Supp…

[00:00:14][music] >> Hi, I'm Ava Macina and this is the market update from the Coin Daily. We're opening on a clear downside sweep. Every major name is red this hour with no outliers to the upside and a tight range across everything.

[00:00:29]Alts are a bit weaker than majors.

[00:00:32]Unless you see flow shift on the day, this is a tape to respect for downside risk, not dig for shorts.

[00:00:38]The board's clean.

[00:00:40]Right now the tape still tilts lower, but it's not one-way selling.

[00:00:44]The breadth snapshot shows two up, nine down, and three unchanged out of 14.

[00:00:50]Dispersion is scattered on this view, so there is some differentiation across names. Over 24 hours, majors lost less at minus 1.1% versus minus 1.67% for alts.

[00:01:04]Our leaderboard.

[00:01:06]Every name in the scoreboard is red today.

[00:01:09]Bitcoin's down 1.35%.

[00:01:12]Avalanche is off 1.67%.

[00:01:15]Cardano is weaker at minus 2.95%.

[00:01:19]Bitcoin Cash lost 3.44%.

[00:01:22]Uniswap is off 4.0% and Polkadot is down the most here at minus 4.06%.

[00:01:29]No outliers bucking the sell-off.

[00:01:32]On positioning.

[00:01:34]Avalanche stands out not for price, but for flow.

[00:01:37]On this display, open interest is down 2.6% over 24 hours with open interest at 214.5 million dollars. Funding rate is 7.85% annualized, so this remains a positioning story more than a price story.

[00:01:57]Biggest mover for vol.

[00:01:59]Uniswap is the most volatile coin on the board right now with realized volatility topping every other name.

[00:02:06]>> [snorts] >> It's pinned just above 3.405 support with the last price on the board at 3.423.

[00:02:13]Even with all the movement, the broader flow here is less extreme.

[00:02:18]Clean level. You'd want to see if that 3.405 zone keeps holding up with overhead resistance just above at 3.44.

[00:02:28]Deep cut. XRP XRP is sitting near its key level with current price at 1.0862 and the key level at 1.0857.

[00:02:39]What happens here sets the next directional bias. On this setup, a break points to 1.09 while the whole target is 1.08.

[00:02:49]And finally, Bitcoin.

[00:02:51]Bitcoin is the calmest coin today.

[00:02:54]Volatility is at the low end among majors and on this chart, it's boxed into a very tight range with support at 63,889.

[00:03:03]Resistance at 63,932 and last price at 63,919.

[00:03:10]Not much to trade off of unless price pushes out of that band. It's a one-way red tape. Most names moving as a pack.

[00:03:19]Use levels, not hero trades, and keep your eye on XRP and Avalanche for the next real move.

[00:03:26]That's your market update for this morning. Subscribe and ring the bell so you never miss the morning read.