SK HYNIX has been hammered all the way down from the 1292 peak to 1212. In 24 hours it’s -2.94%, and all the 15-minute moving averages are overhead, pressing down. The 4-hour trend has turned to neutral/empty—on the surface, it looks like a breakdown and selloff.
But the derivatives side is completely out of sync with the price: open interest increases 4.3% in a day—it’s not falling, it’s rising. The price is dropping, yet money is still flowing in.
What you really need to watch is the funding rate: now it’s -0.056%, the deepest negative value among 8 sampling points. The more shorts pile up and the more negative the funding becomes, the shorts here are effectively paying to hold the position—what they fear most is a single bullish candle that blows them out.
The share of aggressive buy orders is 55.6%. Over the past 7 hours, aggressive trading volume surged 106%. Buying volume is 15341, surpassing selling volume of 12251—at the lower level, there really is incremental capital coming in. Whale positions show a long-to-short ratio of 2.3x, with 69.8% of positions pinned long. Big money hasn’t left.
So at this level I’m going long, betting on short covering. First watch for reclaiming the MA20 at 1232, then the MA50 at 1257. The risk is the 24-hour low at 1211—if there’s a high-volume breakdown below it and open interest keeps increasing, that means the shorts are winning. If that happens, I’ll immediately flip to short.
#skhynix $SKHYNIX
But the derivatives side is completely out of sync with the price: open interest increases 4.3% in a day—it’s not falling, it’s rising. The price is dropping, yet money is still flowing in.
What you really need to watch is the funding rate: now it’s -0.056%, the deepest negative value among 8 sampling points. The more shorts pile up and the more negative the funding becomes, the shorts here are effectively paying to hold the position—what they fear most is a single bullish candle that blows them out.
The share of aggressive buy orders is 55.6%. Over the past 7 hours, aggressive trading volume surged 106%. Buying volume is 15341, surpassing selling volume of 12251—at the lower level, there really is incremental capital coming in. Whale positions show a long-to-short ratio of 2.3x, with 69.8% of positions pinned long. Big money hasn’t left.
So at this level I’m going long, betting on short covering. First watch for reclaiming the MA20 at 1232, then the MA50 at 1257. The risk is the 24-hour low at 1211—if there’s a high-volume breakdown below it and open interest keeps increasing, that means the shorts are winning. If that happens, I’ll immediately flip to short.
#skhynix $SKHYNIX
