SOON traders, look beyond positive funding before betting on a recovery
Photo: AMBCrypto
Soon [SOON] started the day on a bearish note, with the asset declining 14%, according to CoinGlass. However, market activity shows that the current price level has not changed the fundamental factors hinting at a possible bullish base still being in place. The classic explanation for this is that while SOON's short-term outlook remains bearish, its long-term prospects still show strong upside potential. SOON faces heavy capital outflows The broader market shock has played a key role in pulling capital out of the asset. Press-time data shows that SOON has recorded significant outflows in both the perpetual and spot markets.
Source: AMBCrypto
