$NEAR This chart looks interesting.
Price is down 1.62% over 15m, but OI is at an unusually high percentile of 90.3%, ranking #14 across the entire pool for anomalies and #3 for notional change. This has continued for several consecutive periods. Structurally, it looks more like new leveraged shorts entering than a passive drop caused simply by longs closing.
The active trade delta is -42.3%, and the buy/sell ratio is 0.41, showing clearly lopsided selling pressure. The close also broke below the low of the last 20 5m candles. Volume is 2.12x above normal, and the funding rate is also at a recent high percentile.
24h trading volume is 888 million, so liquidity is sufficient. I wouldn't rush to buy into this kind of setup. I'd wait for leveraged longs to get flushed out and funding to cool off before assessing support. The downward pressure is still there—don't try to tough it out.
Price is down 1.62% over 15m, but OI is at an unusually high percentile of 90.3%, ranking #14 across the entire pool for anomalies and #3 for notional change. This has continued for several consecutive periods. Structurally, it looks more like new leveraged shorts entering than a passive drop caused simply by longs closing.
The active trade delta is -42.3%, and the buy/sell ratio is 0.41, showing clearly lopsided selling pressure. The close also broke below the low of the last 20 5m candles. Volume is 2.12x above normal, and the funding rate is also at a recent high percentile.
24h trading volume is 888 million, so liquidity is sufficient. I wouldn't rush to buy into this kind of setup. I'd wait for leveraged longs to get flushed out and funding to cool off before assessing support. The downward pressure is still there—don't try to tough it out.