Technically, $Lobster’s futures data and price have diverged (open interest is down while the price is up): 24-hour open interest -17.89%, price +7.62%, current price 0.04312.
Two things to watch next:
First, whether open interest can stop falling and recover—a recovery could indicate new long positions stepping in. Second, whether the price starts losing momentum. If open interest keeps falling while the price stalls, it likely means short covering is nearing its end.
Just sharing my personal views; this is not a specific buy or sell recommendation.
Two things to watch next:
First, whether open interest can stop falling and recover—a recovery could indicate new long positions stepping in. Second, whether the price starts losing momentum. If open interest keeps falling while the price stalls, it likely means short covering is nearing its end.
Just sharing my personal views; this is not a specific buy or sell recommendation.