$PONS This move is a bit off.
The price dropped 15m by 2.18%. Volume increased to 1.69x. It directly broke below the lower band of the past 20 5m candles. The passive-initiative trade gap is -39%, and the buy-sell ratio is 0.44—so selling pressure is real. And it’s not some fake move where they just jab and run.
The key is OI. In the 1h, OI rose by 1.73%, but the nominal change is negative. What does that indicate? The price is falling, positions are increasing, and the nominal value is shrinking. That looks more like newly added leveraged short positions entering, rather than passive de-risking after longs have been liquidated.
The abnormal percentile is 90.3%, ranking 9th in the whole pool. It has continued across several consecutive cycles—not just noise from a single candle. Depth confirmation also aligns: the trading volume is higher than normal, it touches the boundary of the range, the initiative direction is biased, and the OI abnormality is still ongoing.
This structure is hard to catch on short timeframes. The shorts have leverage, volume, and direction. On the longs’ side, there’s no sign of support. First, see whether it can reclaim after breaking the lower band. If it can’t, then the rhythm is likely trend continuation.
The price dropped 15m by 2.18%. Volume increased to 1.69x. It directly broke below the lower band of the past 20 5m candles. The passive-initiative trade gap is -39%, and the buy-sell ratio is 0.44—so selling pressure is real. And it’s not some fake move where they just jab and run.
The key is OI. In the 1h, OI rose by 1.73%, but the nominal change is negative. What does that indicate? The price is falling, positions are increasing, and the nominal value is shrinking. That looks more like newly added leveraged short positions entering, rather than passive de-risking after longs have been liquidated.
The abnormal percentile is 90.3%, ranking 9th in the whole pool. It has continued across several consecutive cycles—not just noise from a single candle. Depth confirmation also aligns: the trading volume is higher than normal, it touches the boundary of the range, the initiative direction is biased, and the OI abnormality is still ongoing.
This structure is hard to catch on short timeframes. The shorts have leverage, volume, and direction. On the longs’ side, there’s no sign of support. First, see whether it can reclaim after breaking the lower band. If it can’t, then the rhythm is likely trend continuation.