$JUP just broke above the highs of nearly 20 five-minute candles. Fifteen-minute volume is 1.45×, and the aggressive buy/sell ratio is 2.68%—buyers are genuinely pushing.
But OI is interesting: one-hour contract OI is down 0.23%. Price is rising while open interest is falling, which looks more like short covering than fresh longs entering. The anomaly percentile is 86.3%, ranking 7th across the entire pool, and the notional change is also near the top—so this isn't just a few retail traders clicking around.
With this kind of setup, I usually take a closer look: if price retests and holds above the upper edge of that five-minute range, there could be more follow-through. But if OI keeps falling while price continues to push higher, watch out—it could be a pure short squeeze. With $25M in 24-hour volume, liquidity is adequate, but it's best to wait for confirmation before chasing.
But OI is interesting: one-hour contract OI is down 0.23%. Price is rising while open interest is falling, which looks more like short covering than fresh longs entering. The anomaly percentile is 86.3%, ranking 7th across the entire pool, and the notional change is also near the top—so this isn't just a few retail traders clicking around.
With this kind of setup, I usually take a closer look: if price retests and holds above the upper edge of that five-minute range, there could be more follow-through. But if OI keeps falling while price continues to push higher, watch out—it could be a pure short squeeze. With $25M in 24-hour volume, liquidity is adequate, but it's best to wait for confirmation before chasing.