🐳 $ARC : Open interest is down, while price is up. 24-hour open interest: -15.47%; current price: 0.04113.
Worth thinking about: Who is buying on the way up? Rising prices with falling open interest often mean the buying is mainly from short covering—and once the shorts have covered, that buying dries up. A sustained move needs newly opened long positions to keep it going.
Next, watch whether open interest rises or falls.
Worth thinking about: Who is buying on the way up? Rising prices with falling open interest often mean the buying is mainly from short covering—and once the shorts have covered, that buying dries up. A sustained move needs newly opened long positions to keep it going.
Next, watch whether open interest rises or falls.