$INJ This one is a bit interesting—the price is pushing higher while OI is rising in sync. In the 1h futures contract, the nominal open interest has already increased by over 1M. The percentile for abnormal levels has reached 97.6%, and within the whole pool it ranks 6th. It looks more like new leveraged longs are entering rather than just short-covering.
In the 15m timeframe, volume spikes straight to 5.36x. The closing price has broken above the upper edge of the past ~20 5m candles. Structurally, it seems like confirmation has been given. However, active volume shows -5% slippage and the buy/sell ratio is 0.90, suggesting that the willingness to chase longs at the current price isn’t one-sided. The move is fast, but the follow-through is only so-so.
We’re approaching historical extreme territory. If this kind of continuation spans several cycles, watch out: either it keeps accelerating, or it turns into a fake breakout and gets slapped. First, let’s see whether it can hold above the top of this range.
In the 15m timeframe, volume spikes straight to 5.36x. The closing price has broken above the upper edge of the past ~20 5m candles. Structurally, it seems like confirmation has been given. However, active volume shows -5% slippage and the buy/sell ratio is 0.90, suggesting that the willingness to chase longs at the current price isn’t one-sided. The move is fast, but the follow-through is only so-so.
We’re approaching historical extreme territory. If this kind of continuation spans several cycles, watch out: either it keeps accelerating, or it turns into a fake breakout and gets slapped. First, let’s see whether it can hold above the top of this range.