COTI’s pullback is a bit abrupt this time.
On the 15m chart, it dropped straight by 2.10%. Trading volume surged to 2.23x, the volatility (Z) hit 3.74, and the close is still below the lower band of the past ~20 5m candles. Aggressive trading imbalance is -29.5%, the buy/sell ratio is 0.54, and sell pressure is clearly dominant.
What’s interesting is the OI side—15m nominal change is -125K, and 1h is -186K; both are decreasing. But the percentile ranking sits at 91.5%, with the whole pool ranked #2.
With price down, OI down, and volume expanding, this combination looks more like longs are being forced to passively close rather than fresh shorts entering to continue the move. Of course, it’s also possible this is a leverage sweep. Either way, the short-term structure has already turned bad.
The 24h traded value is only 21.9M, and liquidity in the pool isn’t very thick. When this kind of volume expands, slippage and chain reactions are more likely.
Let’s see whether it can quickly reclaim the level after breaking the lower band. If it can’t, then wait for the next support. Don’t rush to buy into it.
On the 15m chart, it dropped straight by 2.10%. Trading volume surged to 2.23x, the volatility (Z) hit 3.74, and the close is still below the lower band of the past ~20 5m candles. Aggressive trading imbalance is -29.5%, the buy/sell ratio is 0.54, and sell pressure is clearly dominant.
What’s interesting is the OI side—15m nominal change is -125K, and 1h is -186K; both are decreasing. But the percentile ranking sits at 91.5%, with the whole pool ranked #2.
With price down, OI down, and volume expanding, this combination looks more like longs are being forced to passively close rather than fresh shorts entering to continue the move. Of course, it’s also possible this is a leverage sweep. Either way, the short-term structure has already turned bad.
The 24h traded value is only 21.9M, and liquidity in the pool isn’t very thick. When this kind of volume expands, slippage and chain reactions are more likely.
Let’s see whether it can quickly reclaim the level after breaking the lower band. If it can’t, then wait for the next support. Don’t rush to buy into it.
