There’s something interesting about $RLC here.
It’s up 2% over 15m, with volume not particularly high (0.86x), but OI quietly rose 2.71%, with 481K in notional entering. OI across the whole pool is at an anomalous percentile of 94.2%, ranking #5.
The key isn’t this one candle—it’s the funding rate at a high percentile, plus OI building steadily over several periods while price keeps pushing higher. This is a classic case of leveraged longs piling in. The aggressive buy/sell ratio is 1.18, an 8.2% difference, so buyers are showing some initiative.
It’s getting close to a historical extreme. With this kind of setup, either the short squeeze continues, or the fuel is piling up until one sharp wick wipes it out. OI notional on the 1h timeframe is actually down 1.05%, which suggests some traders are pulling out over the longer timeframe; this short-term move is being driven by fresh leverage.
Keep an eye on funding. If it keeps surging while price stalls, be careful.
It’s up 2% over 15m, with volume not particularly high (0.86x), but OI quietly rose 2.71%, with 481K in notional entering. OI across the whole pool is at an anomalous percentile of 94.2%, ranking #5.
The key isn’t this one candle—it’s the funding rate at a high percentile, plus OI building steadily over several periods while price keeps pushing higher. This is a classic case of leveraged longs piling in. The aggressive buy/sell ratio is 1.18, an 8.2% difference, so buyers are showing some initiative.
It’s getting close to a historical extreme. With this kind of setup, either the short squeeze continues, or the fuel is piling up until one sharp wick wipes it out. OI notional on the 1h timeframe is actually down 1.05%, which suggests some traders are pulling out over the longer timeframe; this short-term move is being driven by fresh leverage.
Keep an eye on funding. If it keeps surging while price stalls, be careful.
