PIXEL is looking interesting on the 15m: price has quietly climbed 0.96%, but volume hasn’t really followed through. With volume at 0.67x for this kind of move, it normally wouldn’t be worth a second look.
But OI is quietly building. 15m futures open interest is up 2.15%, with 179K U in notional value coming in. The anomaly percentile has hit 91.9%, ranking #15 across the whole pool. On the 1h timeframe, notional is still negative at -44K, suggesting these leveraged longs have only started building up in size over the last 15m, rather than accumulating gradually.
Aggressive trade flow is -2.6%, and the buy/sell ratio is 0.95, so the order flow is tilted slightly toward sellers. Yet price is rising, and so is OI. That combination looks more like someone using leverage to push the price up than strong spot buying. The funding rate is already in a high percentile for the recent period, so longs are starting to pay a premium.
Personally, I’d keep a close eye on this kind of setup. OI has risen for several consecutive periods and the anomaly reading is near the top, so this isn’t just noise. But volume hasn’t picked up, and aggressive buying is weak. If the traders adding leverage let up, the pullback could come quickly. First, watch whether this 15m increase in open interest continues. If it stops, that’s a different story.
$PIXEL
But OI is quietly building. 15m futures open interest is up 2.15%, with 179K U in notional value coming in. The anomaly percentile has hit 91.9%, ranking #15 across the whole pool. On the 1h timeframe, notional is still negative at -44K, suggesting these leveraged longs have only started building up in size over the last 15m, rather than accumulating gradually.
Aggressive trade flow is -2.6%, and the buy/sell ratio is 0.95, so the order flow is tilted slightly toward sellers. Yet price is rising, and so is OI. That combination looks more like someone using leverage to push the price up than strong spot buying. The funding rate is already in a high percentile for the recent period, so longs are starting to pay a premium.
Personally, I’d keep a close eye on this kind of setup. OI has risen for several consecutive periods and the anomaly reading is near the top, so this isn’t just noise. But volume hasn’t picked up, and aggressive buying is weak. If the traders adding leverage let up, the pullback could come quickly. First, watch whether this 15m increase in open interest continues. If it stops, that’s a different story.
$PIXEL