$LDO It’s causing trouble in the middle of the night.
In 15m, it suddenly surged by 1.22%. Volume immediately jumped to 1.85x, the Z value is 2.74, and the close is above the upper edge of the recent 5m range for nearly 20 candles. The buy side actively stepped in; the buy/sell ratio is 1.22—looks pretty lively.
But if you check the OI: 15m is -0.19%, and 1h is -0.72%. As price moves up, open interest is falling. This isn’t fresh long capital pushing in—it’s shorts being forced to cover. A classic short-covering move, and the bullish crowd should actually be more careful.
The funding rate is still in a high percentile recently. Longs are already crowded. After this squeeze, if new positions don’t follow through, once it’s pushed up, it can easily leak.
This morning’s odd move will show its true colors during the day. I’m watching to see whether the volume can continue.
In 15m, it suddenly surged by 1.22%. Volume immediately jumped to 1.85x, the Z value is 2.74, and the close is above the upper edge of the recent 5m range for nearly 20 candles. The buy side actively stepped in; the buy/sell ratio is 1.22—looks pretty lively.
But if you check the OI: 15m is -0.19%, and 1h is -0.72%. As price moves up, open interest is falling. This isn’t fresh long capital pushing in—it’s shorts being forced to cover. A classic short-covering move, and the bullish crowd should actually be more careful.
The funding rate is still in a high percentile recently. Longs are already crowded. After this squeeze, if new positions don’t follow through, once it’s pushed up, it can easily leak.
This morning’s odd move will show its true colors during the day. I’m watching to see whether the volume can continue.
