$VVV This move has a pretty good vibe.
In just 15 minutes, it surged with volume and broke through the upper bound of the range of nearly 20 five-minute candlesticks. The volume surged to 2.49x its usual level; the difference in active trades was 25%, buy/sell ratio 1.67. The longs are truly taking action—this isn’t the kind of move that only does a fake pump to lure people.
What’s even more worth noting is that OI is pushing upward in sync as price rises. Even though the nominal change doesn’t look huge, the abnormal percentile has already hit 96.2%, ranking 2nd in the whole pool. This kind of structure—price rising while open interest is also lifting—most likely means new leveraged funds have entered, not that shorts are just covering to create a temporary spike. So the follow-through may be better.
The 24-hour trading value is only a bit over $10 million, so the market cap isn’t large. But with this relatively extreme range breakout paired with an uptick ranked near the top in the whole pool, once the direction really plays out, the move could be fairly sharp.
Next, it’s all about whether this breakout can hold. If it can stand firm, you may consider following the trend to look for continuation. If it falls back into the range, then it’s probably over for this move.
In just 15 minutes, it surged with volume and broke through the upper bound of the range of nearly 20 five-minute candlesticks. The volume surged to 2.49x its usual level; the difference in active trades was 25%, buy/sell ratio 1.67. The longs are truly taking action—this isn’t the kind of move that only does a fake pump to lure people.
What’s even more worth noting is that OI is pushing upward in sync as price rises. Even though the nominal change doesn’t look huge, the abnormal percentile has already hit 96.2%, ranking 2nd in the whole pool. This kind of structure—price rising while open interest is also lifting—most likely means new leveraged funds have entered, not that shorts are just covering to create a temporary spike. So the follow-through may be better.
The 24-hour trading value is only a bit over $10 million, so the market cap isn’t large. But with this relatively extreme range breakout paired with an uptick ranked near the top in the whole pool, once the direction really plays out, the move could be fairly sharp.
Next, it’s all about whether this breakout can hold. If it can stand firm, you may consider following the trend to look for continuation. If it falls back into the range, then it’s probably over for this move.
