$ZRO This move has some substance.
It jumped 2.61% in 15m, with volume reaching 2.41x and a taker buy/sell ratio of 1.68. Buy-side market orders outweighed sell-side orders by 25.4%—this doesn’t look like a quick fakeout. The closing price broke above the highs of nearly 20 recent 5m candles, so the structure is starting to shape up.
More importantly, OI rose 0.21% over 15m and 0.63% over 1h, with combined notional changes of nearly $1.8M. Its anomaly percentile is 87.1%, ranking #18 across the whole pool. With price and volume aligned, OI has been rising for several consecutive periods, and the funding rate has also climbed into a high recent percentile. This combination looks more like new leveraged longs piling in than a passive squeeze caused by short liquidations.
24h trading volume is just over $50M, so the market isn’t that heavy. If this move continues from here, slippage could help push it along.
Watch whether it can hold above the top of this range. If it does, then we can talk about the next step.
It jumped 2.61% in 15m, with volume reaching 2.41x and a taker buy/sell ratio of 1.68. Buy-side market orders outweighed sell-side orders by 25.4%—this doesn’t look like a quick fakeout. The closing price broke above the highs of nearly 20 recent 5m candles, so the structure is starting to shape up.
More importantly, OI rose 0.21% over 15m and 0.63% over 1h, with combined notional changes of nearly $1.8M. Its anomaly percentile is 87.1%, ranking #18 across the whole pool. With price and volume aligned, OI has been rising for several consecutive periods, and the funding rate has also climbed into a high recent percentile. This combination looks more like new leveraged longs piling in than a passive squeeze caused by short liquidations.
24h trading volume is just over $50M, so the market isn’t that heavy. If this move continues from here, slippage could help push it along.
Watch whether it can hold above the top of this range. If it does, then we can talk about the next step.