Price Position and Structural State
GraniteShares 2x Long INTC Daily ETF (INTW) closed at 17.84 USDT on August 30, 2026, down 4.39%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 15.06 USDT, with resistance near 33.75 USDT. A daily close below 15.06 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
INTW is trading below all key moving averages. MA9 at 18.342 USDT stands as the first moving-average resistance area to watch. The more notable signal is downside extension: INTW sits 19.47% below MA50, while its historical range runs from -19.10% to -16.68%. Price has moved beyond the lower side of that historical range, which means the downside move is pronounced but also raises mean-reversion risk from a stretched position.
Trading Friction and Price Efficiency
INTW shows moderate trading friction, with a 3-day friction score of 48.2. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.
Open Interest, Funding, and Positioning
Open interest increased +0.13% in one day, showing some leverage entering the market. OI sits near the middle of its 60-day range, so the move adds leverage from a normal base rather than from a stretched one.
Funding is near neutral across the 24-hour and 7-day averages, at 0.000000% and +0.006181%. This shows limited cost pressure on either side, so funding is not giving a strong directional signal right now.
The long/short ratio is 1.51, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
Correlation, Beta, and Index Relationship
INTW shows weak linkage to the broader crypto market (Sigloid Index). Correlation is limited, and R² indicates that index behavior explains only a small portion of its movement. This suggests price action is largely driven by asset-specific factors rather than broader market direction. Over the 30-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | -0.023 | -0.046 | 0.001 | Inverse linkage |
| 60D | — | — | — | Not enough data |
| 180D | — | — | — | Not enough data |
Momentum, Volatility, and Indicator Pressure
INTW's volatility profile is controlled rather than stretched. ATR% reads 11.33, near the lower side of its full historical range. Bollinger Band width% reads 56.56, near the middle of its full historical range. 20-day Volume Z-score is -1.18. Range expansion is not leading the setup right now.
Momentum is weaker. RSI is 36.79, ROC14 is -29.32%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. INTW has a weak link to that market condition, so price behavior depends more on its own structure than on the broader market trend.
Key Levels for the Next State Change
For INTW, the next structural shift depends on range boundaries. A daily close above 55-day resistance at unavailable establishes a bullish regime, while a daily close below 55-day support at unavailable confirms a bearish regime.