$GRASS The 15m move was pulled pretty decisively, +3.48%. Volume is 1.84x—straight through the upper edge of the previous twenty 5m candles.
What’s interesting is that OI didn’t rise along with it—on the 15m contract OI is -0.56%, and on the 1h it’s only barely +0.12%. Price up while OI down is the classic short-covering script. Active trades are down 22.1%, the buy/sell ratio is 1.57, and the funding rate is still sitting in the high percentile recently. So the longs on this side haven’t really been adding much—more like the shorts couldn’t hold and were forced out.
Pool-wide abnormal #28 and notional change #22—depth and volume have both confirmed it. The 24h turnover of 174M isn’t small either. I probably won’t chase the very first leg; I’ll wait for a pullback to see whether there’s real support before deciding.
This is a rally pushed by short covering—fast, sure, but it often lacks follow-through.
What’s interesting is that OI didn’t rise along with it—on the 15m contract OI is -0.56%, and on the 1h it’s only barely +0.12%. Price up while OI down is the classic short-covering script. Active trades are down 22.1%, the buy/sell ratio is 1.57, and the funding rate is still sitting in the high percentile recently. So the longs on this side haven’t really been adding much—more like the shorts couldn’t hold and were forced out.
Pool-wide abnormal #28 and notional change #22—depth and volume have both confirmed it. The 24h turnover of 174M isn’t small either. I probably won’t chase the very first leg; I’ll wait for a pullback to see whether there’s real support before deciding.
This is a rally pushed by short covering—fast, sure, but it often lacks follow-through.
