TRUTH’s move is pretty interesting: the price is up 1.69% over 15 minutes, but OI fell 1.91% at the same time, with notional value down by $550,000. Volume was only 1.48 times higher, volatility stayed below 1, and the aggressive buy/sell ratio was 0.99. In plain terms, nobody is really putting money behind the move—the rise is almost entirely driven by shorts closing.
Its OI anomaly percentile is 99.2%, the highest across the entire pool, and OI has been falling for several consecutive periods. Price up + OI down: a textbook short-covering setup.
I generally don’t like chasing moves like this. A rally without new longs entering is essentially shorts scrambling over one another to get out. The fuel is other people’s stop-losses, not genuine buying. 24-hour trading volume is just $23.85 million, and depth is limited, so a reversal could happen in just one or two candles.
Let’s see whether OI can stop falling and start recovering—that would be a real sign that capital is willing to step in at this level. As things stand, it looks more like shorts are being squeezed into a corner than the start of a trend.
Its OI anomaly percentile is 99.2%, the highest across the entire pool, and OI has been falling for several consecutive periods. Price up + OI down: a textbook short-covering setup.
I generally don’t like chasing moves like this. A rally without new longs entering is essentially shorts scrambling over one another to get out. The fuel is other people’s stop-losses, not genuine buying. 24-hour trading volume is just $23.85 million, and depth is limited, so a reversal could happen in just one or two candles.
Let’s see whether OI can stop falling and start recovering—that would be a real sign that capital is willing to step in at this level. As things stand, it looks more like shorts are being squeezed into a corner than the start of a trend.