There’s something going on with API3.
It jumped 1.67% in just 15 minutes. The key isn’t the bullish candle itself—it’s the volume: 4.64x, with OI rising in tandem. 1h contracts are up 2.32%, the anomaly percentile hit 97%, and it ranks 4th across the entire pool.
I’d read this structure as new leveraged longs entering, rather than a rally driven by short covering. The taker volume delta is 9.9%, the buy/sell ratio is 1.22, and the closing price broke above the highs of the last 20 5m candles. Funding rates are still in the upper end of their recent range, too.
The move has continued over several consecutive periods, volume is above normal, and the price is hugging the extreme end of its historical range. That’s about as much confirmation from depth as you can get.
24h trading volume is just over $17M, so this isn’t a big pool. The notional change in OI is only around $100K, so don’t treat this kind of anomaly as a guaranteed floor. It’s more of a heads-up: someone is putting money on the line here.
I’ll be watching two things: whether OI keeps building, and whether price can hold above this breakout level. If it can’t, it’s a fakeout. If it can, this might only be the beginning. $API3
It jumped 1.67% in just 15 minutes. The key isn’t the bullish candle itself—it’s the volume: 4.64x, with OI rising in tandem. 1h contracts are up 2.32%, the anomaly percentile hit 97%, and it ranks 4th across the entire pool.
I’d read this structure as new leveraged longs entering, rather than a rally driven by short covering. The taker volume delta is 9.9%, the buy/sell ratio is 1.22, and the closing price broke above the highs of the last 20 5m candles. Funding rates are still in the upper end of their recent range, too.
The move has continued over several consecutive periods, volume is above normal, and the price is hugging the extreme end of its historical range. That’s about as much confirmation from depth as you can get.
24h trading volume is just over $17M, so this isn’t a big pool. The notional change in OI is only around $100K, so don’t treat this kind of anomaly as a guaranteed floor. It’s more of a heads-up: someone is putting money on the line here.
I’ll be watching two things: whether OI keeps building, and whether price can hold above this breakout level. If it can’t, it’s a fakeout. If it can, this might only be the beginning. $API3
