$RLC This selloff has some substance to it.
On the 15m chart, price plunged 1.65%, volume hit 1.60x, the Z-score was 2.06, the aggressive trade delta was -16.3%, and the buy/sell ratio was 0.72—sellers are in control. This isn't a slow bleed with no buyers stepping in; someone is actively dumping.
What's interesting, though, is that OI is also falling: -0.18% on the 15m and -0.38% on the 1h, with negative notional changes across the board. Price down + OI down is classic deleveraging—not new shorts piling in to drive the price lower, but more likely longs getting stopped out or positions being reduced. Simply put, leverage is leaving; bears aren't charging in.
The closing price has already broken below the lows of the last 20 5m candles, and market depth confirms it. Volume is above normal, and aggressive trades are skewed to the sell side. The OI anomaly percentile is 94%, ranking 7th across the entire pool, and it has persisted over multiple consecutive periods—this level really stands out.
24h trading volume is 45.5M—not huge, but not small either. Still, with this kind of structure behind the breakdown, it's best not to rush into buying the dip before a rebound. Wait for OI to stabilize, then reassess.
On the 15m chart, price plunged 1.65%, volume hit 1.60x, the Z-score was 2.06, the aggressive trade delta was -16.3%, and the buy/sell ratio was 0.72—sellers are in control. This isn't a slow bleed with no buyers stepping in; someone is actively dumping.
What's interesting, though, is that OI is also falling: -0.18% on the 15m and -0.38% on the 1h, with negative notional changes across the board. Price down + OI down is classic deleveraging—not new shorts piling in to drive the price lower, but more likely longs getting stopped out or positions being reduced. Simply put, leverage is leaving; bears aren't charging in.
The closing price has already broken below the lows of the last 20 5m candles, and market depth confirms it. Volume is above normal, and aggressive trades are skewed to the sell side. The OI anomaly percentile is 94%, ranking 7th across the entire pool, and it has persisted over multiple consecutive periods—this level really stands out.
24h trading volume is 45.5M—not huge, but not small either. Still, with this kind of structure behind the breakdown, it's best not to rush into buying the dip before a rebound. Wait for OI to stabilize, then reassess.