ONDO is getting pulled a little too fast this time.
On the 15m timeframe, it’s directly up +2.76%, with volume hitting about 4.6x the usual level. The aggressive buy/sell ratio is 1.33—everything is leaning toward the long side. The key isn’t the price—it’s the OI. The 15m contract OI is up +2.53%, 1h is +1.40%. Nominal changes have been stacking across multiple cycles, and the anomaly percentile is 99.2%, ranking first across the whole pool. This isn’t short covering—it’s newly added leveraged long positions rushing in.
The funding rate has already reached a high percentile recently, and the OI is also hugging historical extreme ranges. This structure looks great, but crowding is rising too. In the past 24h, turnover is 186M—liquidity is there—but the question is who will be on the other side later.
As for me, whether I chase or not depends: I’m not sure yet. I’ll wait for a pullback and see if the OI can drop. If OI doesn’t fall and price just moves sideways, then there’s still a second leg. If OI loosens up, then longs are effectively stepping on their own feet. $ONDO
On the 15m timeframe, it’s directly up +2.76%, with volume hitting about 4.6x the usual level. The aggressive buy/sell ratio is 1.33—everything is leaning toward the long side. The key isn’t the price—it’s the OI. The 15m contract OI is up +2.53%, 1h is +1.40%. Nominal changes have been stacking across multiple cycles, and the anomaly percentile is 99.2%, ranking first across the whole pool. This isn’t short covering—it’s newly added leveraged long positions rushing in.
The funding rate has already reached a high percentile recently, and the OI is also hugging historical extreme ranges. This structure looks great, but crowding is rising too. In the past 24h, turnover is 186M—liquidity is there—but the question is who will be on the other side later.
As for me, whether I chase or not depends: I’m not sure yet. I’ll wait for a pullback and see if the OI can drop. If OI doesn’t fall and price just moves sideways, then there’s still a second leg. If OI loosens up, then longs are effectively stepping on their own feet. $ONDO