$ZRO 15 minutes then surged 3.19%—with the 24h high at 1.7267 right overhead. The latest 1.716 is clinging to it—this is basically driving volume straight into the ceiling!
In 1 hour, price jumped from 1.6383 to 1.716; open position notional rose 5.39% to 33.26 million. Price up, positions up—new longs are pushing. However, in that 1 hour, the aggressive buy/sell is slightly skewed toward the sell side (vs. 0.98). It only falls back to 1.024 after 15 minutes—order consumption didn’t keep up with price.
Funding rate +0.005%—longs are paying the crowded cost.
To confirm a breakout, it must first hold above the 24h high of 1.7267. If it drops back below 1.6383 (the level from 1 hour ago), then this story of “position-adding pushing higher” won’t hold.
#ZRO
In 1 hour, price jumped from 1.6383 to 1.716; open position notional rose 5.39% to 33.26 million. Price up, positions up—new longs are pushing. However, in that 1 hour, the aggressive buy/sell is slightly skewed toward the sell side (vs. 0.98). It only falls back to 1.024 after 15 minutes—order consumption didn’t keep up with price.
Funding rate +0.005%—longs are paying the crowded cost.
To confirm a breakout, it must first hold above the 24h high of 1.7267. If it drops back below 1.6383 (the level from 1 hour ago), then this story of “position-adding pushing higher” won’t hold.
#ZRO
