$KAIA This drop is happening pretty fast.
It plunged 1.4% in 15 minutes, with volume hitting 3 times the average. The taker buy/sell ratio is 0.61, so selling pressure is clearly dominant. The closing price fell below the lows of the past 20 5-minute candles, weakening the short-term structure.
What’s interesting, though, is that OI is falling at the same time: -1.04% over 15 minutes and -0.62% over 1 hour, with a notional change of -215K. Price down + OI down doesn’t suggest new shorts entering; it looks more like longs are deleveraging, exiting via stop-losses, or passively reducing their positions.
The OI anomaly percentile has reached 94.2%, ranking 15th across the entire pool. That means this position change is relatively extreme in the current market. The 24-hour trading volume is still 50M, so liquidity isn’t bad, but once this kind of deleveraging gets underway, it often takes more than one or two candles to stabilize.
First, watch whether price can quickly reclaim the lower end of this range. If it can’t, the next support level may be further down.
It plunged 1.4% in 15 minutes, with volume hitting 3 times the average. The taker buy/sell ratio is 0.61, so selling pressure is clearly dominant. The closing price fell below the lows of the past 20 5-minute candles, weakening the short-term structure.
What’s interesting, though, is that OI is falling at the same time: -1.04% over 15 minutes and -0.62% over 1 hour, with a notional change of -215K. Price down + OI down doesn’t suggest new shorts entering; it looks more like longs are deleveraging, exiting via stop-losses, or passively reducing their positions.
The OI anomaly percentile has reached 94.2%, ranking 15th across the entire pool. That means this position change is relatively extreme in the current market. The 24-hour trading volume is still 50M, so liquidity isn’t bad, but once this kind of deleveraging gets underway, it often takes more than one or two candles to stabilize.
First, watch whether price can quickly reclaim the lower end of this range. If it can’t, the next support level may be further down.