Structurally, $Lobster’s contract data and price have diverged (open interest down, price up): 24-hour open interest -10.92%, price +18.05%, current price 0.04976.
Next, watch for two things:
First, whether open interest can recover—a recovery often indicates new longs stepping in. Second, whether the price starts to stall. If open interest keeps falling while the price can no longer rise, it likely means short covering is nearly over.
#Lobster
Personal opinion only; not a recommendation to buy or sell.
Next, watch for two things:
First, whether open interest can recover—a recovery often indicates new longs stepping in. Second, whether the price starts to stall. If open interest keeps falling while the price can no longer rise, it likely means short covering is nearly over.
#Lobster
Personal opinion only; not a recommendation to buy or sell.