$MINA ’s 15m candle is pretty brutal: down 5.41%, with volume surging to 11.76x.
The most interesting part is that OI is still rising—+2.76% over 15m and +5.10% over 1h. Its abnormality percentile is 99.4%, the highest across the entire pool, but the notional change is negative. With price down, open interest up, and notional value shrinking, my inclination is that new leveraged shorts are pushing the price lower. The taker delta of -31.7% and buy/sell ratio of 0.52 also support that view.
The close has already broken below the lower bound of the last 20 5m candles. Z-score: 9.56. Chasing shorts at this level doesn’t offer great risk-reward, but if the rebound is weak, there may be more downside ahead. Let’s wait and see whether the next candle can recover.
The most interesting part is that OI is still rising—+2.76% over 15m and +5.10% over 1h. Its abnormality percentile is 99.4%, the highest across the entire pool, but the notional change is negative. With price down, open interest up, and notional value shrinking, my inclination is that new leveraged shorts are pushing the price lower. The taker delta of -31.7% and buy/sell ratio of 0.52 also support that view.
The close has already broken below the lower bound of the last 20 5m candles. Z-score: 9.56. Chasing shorts at this level doesn’t offer great risk-reward, but if the rebound is weak, there may be more downside ahead. Let’s wait and see whether the next candle can recover.