$PROM This 15m move is pretty interesting. Price climbed 1.66%, and volume surged to 3.9x, but OI moved completely the other way—down 1.65% over 15m and a full 10% over 1h, with notional value shrinking by 1.65M.
Price is rising while positions are being closed out—a classic short squeeze, not fresh longs entering. The buy/sell ratio is 1.16, so aggressive buyers have a slight edge, but looking at the OI curve, it seems more like shorts are being forced to close than buyers genuinely piling in with real money.
24h trading volume is 41.5M, so liquidity is ample. The abnormality percentile is 77.8%, ranking it among the more notable assets in the pool. Be careful about chasing longs in this kind of setup: once the short-covering buying stops, the upward momentum could disappear. First, see whether price can hold after this wave of position closures is over.
Price is rising while positions are being closed out—a classic short squeeze, not fresh longs entering. The buy/sell ratio is 1.16, so aggressive buyers have a slight edge, but looking at the OI curve, it seems more like shorts are being forced to close than buyers genuinely piling in with real money.
24h trading volume is 41.5M, so liquidity is ample. The abnormality percentile is 77.8%, ranking it among the more notable assets in the pool. Be careful about chasing longs in this kind of setup: once the short-covering buying stops, the upward momentum could disappear. First, see whether price can hold after this wave of position closures is over.