OGN is making moves: it surged nearly 4% in 15 minutes, with volume hitting 2.96 times its usual level. OI is even more extreme—up 4.25% in 15 minutes and 5.10% in 1 hour, at the 99.2nd percentile for anomalies, ranking first across the entire pool.
This isn’t just a short squeeze. Price, OI, and volume are all moving together; the taker buy/sell ratio is 1.16, and the funding rate has also climbed to a recent high percentile. It looks more like fresh leveraged longs piling in than existing positions being shuffled around.
24-hour trading volume is only a little over 18M, and the pool is shallow. The nominal change in OI isn’t that large either—just 242K over 1 hour. So while the setup looks aggressive, the actual support is thin. If the longs don’t keep stepping in, the pullback could come quickly.
It’s approaching historically extreme levels and has continued for several consecutive periods. I’ll keep it on my watchlist for now and wait for confirmation before making a move.
This isn’t just a short squeeze. Price, OI, and volume are all moving together; the taker buy/sell ratio is 1.16, and the funding rate has also climbed to a recent high percentile. It looks more like fresh leveraged longs piling in than existing positions being shuffled around.
24-hour trading volume is only a little over 18M, and the pool is shallow. The nominal change in OI isn’t that large either—just 242K over 1 hour. So while the setup looks aggressive, the actual support is thin. If the longs don’t keep stepping in, the pullback could come quickly.
It’s approaching historically extreme levels and has continued for several consecutive periods. I’ll keep it on my watchlist for now and wait for confirmation before making a move.