$XMR surged 0.74% in 15 minutes, with volume climbing to 3.47x. Price closed near the top of the 20 five-minute candles, and aggressive buying was notably strong, with a buy/sell ratio of 1.34.
But here’s the interesting part: open interest—down 0.04% over 15 minutes and 0.66% over 1 hour. Price is rising while positions in the contracts are shrinking. This looks much more like short covering than fresh money coming in to drive the move.
The anomaly percentile is 86.3%, ranking 7th across the whole pool. The depth confirms the move isn’t fake. But with 24-hour trading volume at just $38M, liquidity can’t compare with the big names. Be cautious chasing this kind of breakout; once the short covering runs its course, there may be little follow-through.
But here’s the interesting part: open interest—down 0.04% over 15 minutes and 0.66% over 1 hour. Price is rising while positions in the contracts are shrinking. This looks much more like short covering than fresh money coming in to drive the move.
The anomaly percentile is 86.3%, ranking 7th across the whole pool. The depth confirms the move isn’t fake. But with 24-hour trading volume at just $38M, liquidity can’t compare with the big names. Be cautious chasing this kind of breakout; once the short covering runs its course, there may be little follow-through.