$DYDX This spot is kind of interesting.
In the 15m timeframe, it moved up 1.8%; the volume directly reached 2.79x. OI on 15m is +1.33%, and on 1h it's +0.99%. The abnormal percentile is 99%, and the entire pool ranks #2. This doesn’t look like that kind of short covering with a fake push—OI is moving along with the price. It’s more like new long positions are entering and adding leverage.
The closing price has already broken above the upper bound of the last 20 five-minute candles. Active trading volume is down 11.6%, the buy/sell ratio is 1.26, and the funding rate is also at a high percentile recently. Multiple consecutive cycles are continuing in the same direction; with volume and price coordinating well, the setup looks solid.
In the last 24h, the traded value is only 11.41M, and the pool isn’t very deep. Once incremental capital comes in at this level, slippage will be quite noticeable. On the other hand, if the funding rate keeps staying elevated, you also need to watch for the risk of a pullback after longs become crowded.
First, see whether it can hold steady above the top of this range.
In the 15m timeframe, it moved up 1.8%; the volume directly reached 2.79x. OI on 15m is +1.33%, and on 1h it's +0.99%. The abnormal percentile is 99%, and the entire pool ranks #2. This doesn’t look like that kind of short covering with a fake push—OI is moving along with the price. It’s more like new long positions are entering and adding leverage.
The closing price has already broken above the upper bound of the last 20 five-minute candles. Active trading volume is down 11.6%, the buy/sell ratio is 1.26, and the funding rate is also at a high percentile recently. Multiple consecutive cycles are continuing in the same direction; with volume and price coordinating well, the setup looks solid.
In the last 24h, the traded value is only 11.41M, and the pool isn’t very deep. Once incremental capital comes in at this level, slippage will be quite noticeable. On the other hand, if the funding rate keeps staying elevated, you also need to watch for the risk of a pullback after longs become crowded.
First, see whether it can hold steady above the top of this range.