$XPL 24h is up 27.131%, the price of 0.11452 is almost pinned to the 24h high of 0.1157. In the last 15 minutes it’s surged another 3.38%. The buy/sell ratio pushed up to 1.245—people chasing are accelerating, not closing out!
In the past hour it’s up 3%, but only 1.5x the 24h average volume was released. Yet the open interest value increased by 4.09%. Price rising together with open interest suggests new positions are being opened and pushed higher. Funding rate +0.005% is barely crowded; longs haven’t reached the point where they need to pay the price.
As long as it doesn’t drop back below 0.11118 one hour ago, this round of adding can continue. A break downward would mean the crowd that pushed highs is being trapped.
#XPL
In the past hour it’s up 3%, but only 1.5x the 24h average volume was released. Yet the open interest value increased by 4.09%. Price rising together with open interest suggests new positions are being opened and pushed higher. Funding rate +0.005% is barely crowded; longs haven’t reached the point where they need to pay the price.
As long as it doesn’t drop back below 0.11118 one hour ago, this round of adding can continue. A break downward would mean the crowd that pushed highs is being trapped.
#XPL
