MCHP/USDT stock perp live on MEXC: Microchip Technology

MCHP/USDT on MEXC, a quick read for traders.

What it is: a USDT-margined perpetual tracking Microchip Technology, the US microcontroller and analog chipmaker. No expiry, settled in USDT, contract size 0.001 MCHP, up to 20x, fees 0% maker / 0.02% taker. MEXC opened it at 9:00 AM ET on Oct 22.

Structure at 5:00 PM ET: last 73.97, index 74.26, fair price 74.22, down 1.06%. Range 73.57 to 75.67. The 15m chart pushed to about 75.40 this morning and has printed lower highs since, sitting under the 30 and 60 period averages near 74.3 to 74.6.

Liquidity: about 131K USDT of 24h turnover and about 131K USDT open interest.

Funding: +0.0128% per 8h. Longs pay shorts, so funding helps a short.

Bias: SHORT. Lower highs under the averages favor a retest of 73.57, the day low. Invalidation is a 15m close above 74.60, the 60 period average.

Risk: the cash market is closed, so after-hours flow is thin and the price can gap at the next open. Liquidation runs off fair price, not last trade. Use limit orders, isolated margin and small size.

NFA

Bias: SHORT, lower highs since 75.40, under all MAs. Invalidation: 15m close above 74.60. NFA