Morpho (MORPHO) rallied 17.8% in the past 24 hours as traders shifted capital into decentralized finance (DeFi) assets, with Ethena (ENA) and Aave (AAVE) also rising. Despite the gain, Binance’s top traders maintained bearish positioning; short accounts reached 56.55% of tracked accounts, while long accounts were 43.45%, producing a Long/Short Ratio of 0.77. Selling pressure persisted across spot and futures markets, as indicated by taker sell dominance in the 90-day cumulative volume delta. The price surged to $2.929 before sellers prevented a breakout, pushing it back to $2.774, leaving $2.304 as a key support level. The Relative Strength Index hit 74.64, entering overbought territory.
Morpho (MORPHO) gained 17.8% in the past 24 hours as a broader rotation into decentralized finance (DeFi) lifted tokens including Ethena (ENA) and Aave (AAVE). Data shows the rally attracted direct exposure to decentralized lending infrastructure despite bearish sentiment among top traders.
Binance’s top traders maintained a bearish account distribution during the price expansion. Short accounts reached 56.55%, while long accounts accounted for only 43.45% of tracked positioning. The Long/Short Ratio dipped to 0.77, showing a clear numerical edge for short accounts. This contrasted with MORPHO’s 17.8% gain and fast-growing trading volume.
Selling pressure remained visible across both spot and futures markets despite the strong daily appreciation. The 90-day Spot Taker Cumulative Volume Delta showed taker sell dominance, indicating continued aggressive selling in spot transactions. The Futures Taker CVD also maintained taker-sell dominance, extending the same pressure into leveraged trading activity.
On the daily chart, MORPHO surged through the $2.304 supply zone before reaching $2.929, where sellers prevented the breakout from extending further. The rejection pushed the price back to $2.774, leaving $2.304 as an important support beneath the breakout. The Relative Strength Index hit 74.64 after the surge, bringing MORPHO to overbought territory. Its RSI average was at 62.44, reflecting the quick buying momentum built during the move.
The Moving Average Convergence Divergence (MACD) showed a bullish signal with its line extending past 0.169 from its signal line at 0.082. The histogram remained positive at 0.088, supporting the broader bullish structure despite resistance-driven selling near the $2.929 level. A sustained hold above $2.304 would preserve the breakout structure, while failure at that support could deepen the retreat as overbought conditions encourage profit-taking.
