$SAND is showing some movement.
It’s up 0.68% over 15m, with volume at 1.53x, and the price has just cleared the upper end of the last 20 five-minute candles. A small breakout like this doesn’t mean much on its own; what matters is that OI is rising in tandem—up 0.93% over 15m and 1.02% over 1h. The absolute notional increase isn’t large, but its anomaly percentile has reached 81.7%, ranking it #18 across the entire pool.
With both price and OI rising, I’m more inclined to think new leveraged longs are entering rather than shorts covering. Combined with an active trade imbalance of 21.3% and a buy/sell ratio of 1.54, short-term buyers are pushing the price higher.
24h trading volume is 221M, and liquidity in the pool is sufficient. If the price can hold here, there may be another leg up. But remember, this is only a 15m signal, and pullbacks after a spike are common.
I’ll keep watching for now—no need to rush in.
It’s up 0.68% over 15m, with volume at 1.53x, and the price has just cleared the upper end of the last 20 five-minute candles. A small breakout like this doesn’t mean much on its own; what matters is that OI is rising in tandem—up 0.93% over 15m and 1.02% over 1h. The absolute notional increase isn’t large, but its anomaly percentile has reached 81.7%, ranking it #18 across the entire pool.
With both price and OI rising, I’m more inclined to think new leveraged longs are entering rather than shorts covering. Combined with an active trade imbalance of 21.3% and a buy/sell ratio of 1.54, short-term buyers are pushing the price higher.
24h trading volume is 221M, and liquidity in the pool is sufficient. If the price can hold here, there may be another leg up. But remember, this is only a 15m signal, and pullbacks after a spike are common.
I’ll keep watching for now—no need to rush in.
