$HYPE This downward breakout is kind of interesting.
In the last 15 minutes, it’s down 1.1%. Volume surged straight to 2.76x, and the price has also broken through the lower bound of the recent 20 five-minute K-bars. But what’s interesting is that during the drop, contract OI is still only slightly up—shorts are adding positions, yet the notional value is shrinking. In plain terms: this is new leveraged shorting that’s being used to slam the price, not a cascading liquidation.
Aggressive trades are down 31.7%, and the buy/sell ratio is 0.52—selling pressure direction is very clear. The anomaly level across the whole pool ranks at #21, and the change in notional value is even in the top three. The move by the funds on HYPE isn’t something retail investors can stir up.
Don’t rush to bottom-fish. If the shorts are actively adding and breaking support, this kind of decline usually has momentum. Unless you clearly see aggressive buying returning, don’t be the contrarian. $HYPE
In the last 15 minutes, it’s down 1.1%. Volume surged straight to 2.76x, and the price has also broken through the lower bound of the recent 20 five-minute K-bars. But what’s interesting is that during the drop, contract OI is still only slightly up—shorts are adding positions, yet the notional value is shrinking. In plain terms: this is new leveraged shorting that’s being used to slam the price, not a cascading liquidation.
Aggressive trades are down 31.7%, and the buy/sell ratio is 0.52—selling pressure direction is very clear. The anomaly level across the whole pool ranks at #21, and the change in notional value is even in the top three. The move by the funds on HYPE isn’t something retail investors can stir up.
Don’t rush to bottom-fish. If the shorts are actively adding and breaking support, this kind of decline usually has momentum. Unless you clearly see aggressive buying returning, don’t be the contrarian. $HYPE