$PENGU This move is a bit interesting.
In the 15m timeframe, volume surged and it pulled up to 2.27x. At the close, it directly broke through the upper bound of the past nearly 20 5m bars. OI is up +1.02% over the past hour; about 1 million U in notional has been added—not like a short-covering fake-out. Price is rising, positions are rising, and the ratio of aggressive buying/selling is 1.51, which looks more like new longs are stepping in and taking the baton.
The percentile rank is 86.9%. In the entire pool it ranks #15, and the funding rate has also bumped up to a high percentile recently. This has continued across several consecutive cycles, suggesting it’s not just a one-off needle-like move.
In the last 24h, turnover is 43.88M, so depth is sufficient. The only thing to watch is that the funding rate is already not cheap; after leverage is pushed in, the pullback magnitude may not be small either.
First, let’s see if it can hold and stay above the top of this range.
In the 15m timeframe, volume surged and it pulled up to 2.27x. At the close, it directly broke through the upper bound of the past nearly 20 5m bars. OI is up +1.02% over the past hour; about 1 million U in notional has been added—not like a short-covering fake-out. Price is rising, positions are rising, and the ratio of aggressive buying/selling is 1.51, which looks more like new longs are stepping in and taking the baton.
The percentile rank is 86.9%. In the entire pool it ranks #15, and the funding rate has also bumped up to a high percentile recently. This has continued across several consecutive cycles, suggesting it’s not just a one-off needle-like move.
In the last 24h, turnover is 43.88M, so depth is sufficient. The only thing to watch is that the funding rate is already not cheap; after leverage is pushed in, the pullback magnitude may not be small either.
First, let’s see if it can hold and stay above the top of this range.