$CHIP This spot is kind of interesting.
In 15m: it surged by 1.73%, and the volume directly pushed to 2.02x. The Z value is 3.68. The closing price is riding along the upper edge of the last nearly 20 consecutive 5m candles. The buy/sell imbalance is 1.55, and the difference in active volume is -21.5%, with buy-side dominance quite evident.
More importantly is OI—this isn’t a fake breakout caused by one-sided liquidations. On the 1h contract, OI is +0.54%, and the notional increased by a bit over 400k U. The anomaly percentile is 94%. Price is rising and OI is rising in sync, indicating new leveraged long positions are following—not just a pure spot pump with contracts watching.
However, the funding rate has already reached a high percentile in the recent period. This kind of structure is often a double-edged sword: confirmation of sentiment comes quickly, but if it can’t go further, it’s also easy to get harvested on a reversal. The 24h trading value is only 14.55M, so the pool isn’t that deep. Depth looks solid in confirmation, but you still need to be careful about slippage.
Now it’s sitting near the historical extreme range. Either break directly out, or come back with an upper wick to wash things out. Bias is bullish, but don’t chase the price.
In 15m: it surged by 1.73%, and the volume directly pushed to 2.02x. The Z value is 3.68. The closing price is riding along the upper edge of the last nearly 20 consecutive 5m candles. The buy/sell imbalance is 1.55, and the difference in active volume is -21.5%, with buy-side dominance quite evident.
More importantly is OI—this isn’t a fake breakout caused by one-sided liquidations. On the 1h contract, OI is +0.54%, and the notional increased by a bit over 400k U. The anomaly percentile is 94%. Price is rising and OI is rising in sync, indicating new leveraged long positions are following—not just a pure spot pump with contracts watching.
However, the funding rate has already reached a high percentile in the recent period. This kind of structure is often a double-edged sword: confirmation of sentiment comes quickly, but if it can’t go further, it’s also easy to get harvested on a reversal. The 24h trading value is only 14.55M, so the pool isn’t that deep. Depth looks solid in confirmation, but you still need to be careful about slippage.
Now it’s sitting near the historical extreme range. Either break directly out, or come back with an upper wick to wash things out. Bias is bullish, but don’t chase the price.