$STG This one (15m) moved up pretty decisively, +6.4%, with volume directly reaching 8.6 times.
On closer inspection, it’s kind of interesting: price surged upward, but OI on the 15m is actually -0.15%, and only barely +0.35% on the 1h. This doesn’t look like a fresh batch of new longs entering aggressively—it’s more like short positions being forced to close, with older positions being replenished and pushing the price up. Active buy/sell is 1.37, and active trades are down 15.6%—so yes, buy pressure is chasing.
The percentile is an unusual 98.6%, ranking #1 across the whole pool. The funding rate has also been at a high percentile recently—longs have started paying.
The closing price broke through the upper band of the past ~20 5m candles, essentially touching the edge of the recent range. Chasing with this kind of structure can be risky: if the fuel for shorts covering runs out and there isn’t fresh capital to step in, it’s prone to spike up then pull back. Let’s first see whether it can hold above this upper bound of the range.
On closer inspection, it’s kind of interesting: price surged upward, but OI on the 15m is actually -0.15%, and only barely +0.35% on the 1h. This doesn’t look like a fresh batch of new longs entering aggressively—it’s more like short positions being forced to close, with older positions being replenished and pushing the price up. Active buy/sell is 1.37, and active trades are down 15.6%—so yes, buy pressure is chasing.
The percentile is an unusual 98.6%, ranking #1 across the whole pool. The funding rate has also been at a high percentile recently—longs have started paying.
The closing price broke through the upper band of the past ~20 5m candles, essentially touching the edge of the recent range. Chasing with this kind of structure can be risky: if the fuel for shorts covering runs out and there isn’t fresh capital to step in, it’s prone to spike up then pull back. Let’s first see whether it can hold above this upper bound of the range.