Technically, the contract data and price for $Q have diverged (open interest is down while the price is up): 24-hour open interest -41.81%, price +12.41%, current price 0.05181.
Watch two things going forward:
First, whether open interest can stop falling and recover—a recovery may indicate new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price moves sideways, it likely means short covering is nearly over.
#Q
Watch two things going forward:
First, whether open interest can stop falling and recover—a recovery may indicate new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price moves sideways, it likely means short covering is nearly over.
#Q