$HUMA This drop isn’t especially sharp, but leverage is already giving way.
15m volume surged to 5.33x, while the price fell 0.97%, breaking below the low of the last 20 or so 5m candles. OI fell 1.24% over 1h, with more than 270,000 U in notional value wiped out—a classic deleveraging move during a decline. Longs are exiting; it’s not fresh shorts piling in to drive the price down.
Funding is still in the higher range of its recent readings, and the OI anomaly is at the 95th percentile, ranking 3rd across the entire pool. With longs this crowded, an active buy/sell ratio of 0.93 looks a little shaky.
This isn’t panic selling; positions are gradually moving to the sidelines. In this kind of setup, I’d wait a bit longer and let leverage flush out before making a move.
15m volume surged to 5.33x, while the price fell 0.97%, breaking below the low of the last 20 or so 5m candles. OI fell 1.24% over 1h, with more than 270,000 U in notional value wiped out—a classic deleveraging move during a decline. Longs are exiting; it’s not fresh shorts piling in to drive the price down.
Funding is still in the higher range of its recent readings, and the OI anomaly is at the 95th percentile, ranking 3rd across the entire pool. With longs this crowded, an active buy/sell ratio of 0.93 looks a little shaky.
This isn’t panic selling; positions are gradually moving to the sidelines. In this kind of setup, I’d wait a bit longer and let leverage flush out before making a move.