$ZRO is looking a bit off.
It dropped 1.65% in 15 minutes, volume hit 2.09x, the buy/sell ratio was 0.62, and the aggressive trade imbalance was -23.8%—clearly, someone is actively selling into the market.
More importantly, the price is falling while OI is rising. 1h futures are up 0.34%, and its notional change across the entire pool ranks #17. This doesn’t look like longs closing; it looks more like new shorts entering with leverage.
The closing price has already fallen below the lower bound of the last 20 5m candles, while the funding rate is still in the upper end of its recent range. If the bulls can’t hold on, there may be another leg down. First, watch to see if it can quickly reclaim the range. If it can’t, be careful.
It dropped 1.65% in 15 minutes, volume hit 2.09x, the buy/sell ratio was 0.62, and the aggressive trade imbalance was -23.8%—clearly, someone is actively selling into the market.
More importantly, the price is falling while OI is rising. 1h futures are up 0.34%, and its notional change across the entire pool ranks #17. This doesn’t look like longs closing; it looks more like new shorts entering with leverage.
The closing price has already fallen below the lower bound of the last 20 5m candles, while the funding rate is still in the upper end of its recent range. If the bulls can’t hold on, there may be another leg down. First, watch to see if it can quickly reclaim the range. If it can’t, be careful.