RITUAL_USDT on KCEX keeps stacking higher lows into 0.02187 with funding negative: long while 0.02011 holds

Ritual is a blockchain project built around bringing AI inference and compute on-chain, and KCEX has a USDT-margined RITUAL perpetual live. The contract was created at 9:46 PM ET on Oct 26.

Contract details

• Max 25x, contract size 100 RITUAL.
• 0% maker, 0.01% taker.

KCEX numbers at 12:00 PM ET

• Last 0.02107, index 0.02117, +5.1% over 24h.
• 24h range 0.01363 to 0.02588.
• 24h turnover about 31K USDT, open interest 4,738 contracts (about 10K USDT).
• Funding -0.0113%, so shorts pay longs.

15m structure

After the early spike to 0.02588 and the 0.01363 low, price has climbed in a staircase. Lows since 9:30: 0.01783, 0.01866, 0.01873, 0.01924, 0.0195, 0.01987, 0.02011, 0.02075, 0.02094. The latest candle printed a 0.02187 high before pulling back to 0.02108.

Bias: LONG

Higher highs and higher lows with a negative funding rate means the crowd is leaning short into a rising chart. Dips that hold 0.02075 to 0.02095 keep the staircase intact, with 0.02187 as the first target and the 0.02588 session high as the stretch level.

Invalidation: a 15m close below 0.02011.

Very new contract, wide range and thin books, so one order moves it. Size small.