ENA This move is kind of interesting.
The 15m price dropped 1.15%, breaking below the lower edge of the past ~20 5m candles. The aggressive volume/active traded amount is down by -25.7%, with a buy-sell ratio of 0.59—clearly sellers are driving it. But OI is actually rising: 15m +0.44%, 1h +0.66%. Yet the notional change is -1.08M / -2.15M. Price is falling while OI is climbing—this is a classic case of new leveraged short positions being added, not just longs being liquidated from a long-unwind dump.
Volume is 2.66x, with a high abnormal percentile of 66.5%. The whole pool abnormal rank is #24, and the notional change rank is #7. Funding rate is still in a high percentile recently. This combination is rather contradictory: a high funding rate suggests longs are still absorbing/holding, but the order book is showing someone adding leverage to short.
Over the last 24h, turnover is 530M—liquidity is deep, not a small move. After breaking below the lower bound of the range, whether it can accelerate depends on this 15m candle closing to confirm. If shorts keep adding and the funding rate doesn’t cool down, squeeze risk will keep building—don’t take a one-sided stand.
The 15m price dropped 1.15%, breaking below the lower edge of the past ~20 5m candles. The aggressive volume/active traded amount is down by -25.7%, with a buy-sell ratio of 0.59—clearly sellers are driving it. But OI is actually rising: 15m +0.44%, 1h +0.66%. Yet the notional change is -1.08M / -2.15M. Price is falling while OI is climbing—this is a classic case of new leveraged short positions being added, not just longs being liquidated from a long-unwind dump.
Volume is 2.66x, with a high abnormal percentile of 66.5%. The whole pool abnormal rank is #24, and the notional change rank is #7. Funding rate is still in a high percentile recently. This combination is rather contradictory: a high funding rate suggests longs are still absorbing/holding, but the order book is showing someone adding leverage to short.
Over the last 24h, turnover is 530M—liquidity is deep, not a small move. After breaking below the lower bound of the range, whether it can accelerate depends on this 15m candle closing to confirm. If shorts keep adding and the funding rate doesn’t cool down, squeeze risk will keep building—don’t take a one-sided stand.