$SNDK For this move, don't focus only on price swings—price and open interest, along with aggressive orders, matter more.
15m price +0.58%, open interest -1.69%. This looks more like a “rebound on position reduction”: price rising while open interest falls suggests existing positions are being closed. With funding still negative, short covering is the more likely explanation.
Aggressive buys account for 37.5%, suggesting short-term sellers are more willing to hit bids. The long/short trader ratio is 4.83: the crowd is leaning long, but funding isn't extreme yet.
A price recovery doesn't mean the structure has strengthened. Until positions catch up, treat this as a rebound.
15m price +0.58%, open interest -1.69%. This looks more like a “rebound on position reduction”: price rising while open interest falls suggests existing positions are being closed. With funding still negative, short covering is the more likely explanation.
Aggressive buys account for 37.5%, suggesting short-term sellers are more willing to hit bids. The long/short trader ratio is 4.83: the crowd is leaning long, but funding isn't extreme yet.
A price recovery doesn't mean the structure has strengthened. Until positions catch up, treat this as a rebound.