The cryptocurrency STABLE surged 13.12% to approximately $0.0335, propelled by a trading volume increase exceeding 2,200%. Technical analysis indicates the move confirmed a breakout from an inverse head and shoulders pattern, with the price reclaiming the $0.0308 neckline level. Market data from CoinGlass shows Open Interest rose 17.50% to $43.07 million, while a negative funding rate of -0.0365% suggests a potential for a short squeeze.
The token STABLE experienced a significant price increase of 13.12% in the past 24 hours, as spot trading volume expanded by more than 2,200%. This surge signaled aggressive capital inflows, pushing the price toward the $0.0350 resistance zone and increasing the market capitalization toward $576.37 million.
Price action completed an inverse head and shoulders formation across the $0.0160 to $0.0308 range. The reclaim of the $0.0308 neckline level transformed prior resistance into active support for the cryptocurrency.
The Relative Strength Index (RSI) climbed to 71.49, reflecting strong upside pressure in bullish territory. Analysts noted the indicator previously peaked near similar zones during prior rallies without showing bearish divergence.
Concurrently, Open Interest data from CoinGlass expanded 17.50% to $43.07 million, signaling fresh leveraged exposure entering the market. This rise alongside price growth confirms participation-driven demand from traders positioning for continuation.
However, the OI-Weighted Funding Rate remained negative at -0.0365% despite the rising price. This imbalance indicates short positioning still dominates derivatives markets, with traders paying to hold short exposure.
Such conditions often fuel acceleration phases, “contrast[ing] with spot-driven upside pressure.” The structural setup currently supports sustained upside, contingent on buyers defending the $0.0308 support level.
