$XPL This move has some substance.
On the 15m chart, it pulled 1.17%—it doesn’t look that aggressive, but the volume was pushed straight to 1.94x. The closing price also broke through the upper band of the last ~20 consecutive 5m candles. The active trade differential is +22.1%, and the buy/sell ratio is 1.57—clearly buyers are driving.
More importantly is the OI: 15m is +0.14%, 1h is +0.44%. The nominal change totals quickly to about +3M U. Price is rising along with OI—this is the typical profile of fresh leveraged longs entering, not the kind of “short covering” fueled by thin air.
Abnormal in the whole pool: #25; nominal change rank: #9. Funding rate is also reaching the upper percentile in the recent period. At this funding level, you should pay attention—there’s a bit of crowded long positioning.
24h trading value is 344M, and depth looks fine. The breakout is a real breakout, but if you chase, weigh it yourself—the funding rate isn’t cheap.
On the 15m chart, it pulled 1.17%—it doesn’t look that aggressive, but the volume was pushed straight to 1.94x. The closing price also broke through the upper band of the last ~20 consecutive 5m candles. The active trade differential is +22.1%, and the buy/sell ratio is 1.57—clearly buyers are driving.
More importantly is the OI: 15m is +0.14%, 1h is +0.44%. The nominal change totals quickly to about +3M U. Price is rising along with OI—this is the typical profile of fresh leveraged longs entering, not the kind of “short covering” fueled by thin air.
Abnormal in the whole pool: #25; nominal change rank: #9. Funding rate is also reaching the upper percentile in the recent period. At this funding level, you should pay attention—there’s a bit of crowded long positioning.
24h trading value is 344M, and depth looks fine. The breakout is a real breakout, but if you chase, weigh it yourself—the funding rate isn’t cheap.