$ONG This wave is for real—within 15 minutes it dropped straight down 12%📉, and trading volume is also up 43% compared to usual.
But after staring at the order book for a long time, I noticed a rather interesting detail—OI didn’t fall; it actually rose. Within an hour, open interest for the contracts increased by 1.51%. That’s what makes it interesting: price made a new low, but leveraged short positions are still entering. This is a classic short-chasing sentiment, and it’s escalating.
Also, the funding rate is still sitting in a high percentile recently. These traders are paying high funding rates while smashing it lower—that already has a bit of a gambler’s vibe.
Honestly, this kind of structure I’ve seen a lot. The more extreme it gets, the more likely a reversal is. But there’s no need to catch the falling knife right now—waiting for a clear signal that selling is stopping on increased volume will feel much better.
The abnormal percentile across the entire pool has reached 97.8%. In this kind of extreme condition, there is never a shortage of big volatility. Let’s just watch for now—don’t rush to make a move.
But after staring at the order book for a long time, I noticed a rather interesting detail—OI didn’t fall; it actually rose. Within an hour, open interest for the contracts increased by 1.51%. That’s what makes it interesting: price made a new low, but leveraged short positions are still entering. This is a classic short-chasing sentiment, and it’s escalating.
Also, the funding rate is still sitting in a high percentile recently. These traders are paying high funding rates while smashing it lower—that already has a bit of a gambler’s vibe.
Honestly, this kind of structure I’ve seen a lot. The more extreme it gets, the more likely a reversal is. But there’s no need to catch the falling knife right now—waiting for a clear signal that selling is stopping on increased volume will feel much better.
The abnormal percentile across the entire pool has reached 97.8%. In this kind of extreme condition, there is never a shortage of big volatility. Let’s just watch for now—don’t rush to make a move.
