$MON This dip is a bit interesting—the price is down 0.65%, but OI is also falling along with it.
It wasn’t new shorts coming in to smash the market; it feels more like longs are pulling back themselves—stop-losses, reducing leverage, shrinking position sizes—pushing the price lower step by step.
Volume is at 1.78x, aggressive volume is down 6.6%, buy/sell ratio is 0.88; selling pressure is there, but it’s not vicious.
The close has broken below the lower edge of the recent 20x 5m range, so the short-term structure has turned bad.
Funding rate is still in the higher percentile range recently… longs were over-stuffed before; now they’re just paying the bill.
No rush to buy the dip—wait until OI stabilizes first.
It wasn’t new shorts coming in to smash the market; it feels more like longs are pulling back themselves—stop-losses, reducing leverage, shrinking position sizes—pushing the price lower step by step.
Volume is at 1.78x, aggressive volume is down 6.6%, buy/sell ratio is 0.88; selling pressure is there, but it’s not vicious.
The close has broken below the lower edge of the recent 20x 5m range, so the short-term structure has turned bad.
Funding rate is still in the higher percentile range recently… longs were over-stuffed before; now they’re just paying the bill.
No rush to buy the dip—wait until OI stabilizes first.