Cash Cat Rises 15% as Negative Perpetual Netflow Raises Reversal Risk

Cash Cat (CASHCAT) rose 15% over 24 hours as spot and perpetual trading volume more than doubled above $63.96 million, while several market indicators pointed to mixed momentum.

The move carried CASHCAT above resistance on a descending-triangle chart pattern. The next marked levels were $0.12, $0.16 and $0.19, where resistance may appear.

Momentum readings were mixed: Aroon Down stood above Aroon Up, while the Money Flow Index (MFI) was between 20 and 50, a range marked bearish.

Perpetual-market netflow was negative $548,260 over 24 hours, alongside about $12.42 million in sales. Negative netflow during a rally can point to profit-taking. The funding rate stayed positive, suggesting positioning had not turned bearish.

Coinbase’s CASHCAT perpetual contracts, launched earlier this month, are available in select jurisdictions.