🐋 For those tracking capital flows, the 4-hour MACD golden cross (below the zero line) on $ENA can be viewed alongside two other indicators:
· Futures open interest: If open interest rises along with the golden cross, new positions may be entering the market; if it falls, the rally is more likely driven by short covering.
· Funding rate: A rapid rise in the rate suggests longs are overheating, so watch out for a sudden reversal.
Will the market shift direction next?
· Futures open interest: If open interest rises along with the golden cross, new positions may be entering the market; if it falls, the rally is more likely driven by short covering.
· Funding rate: A rapid rise in the rate suggests longs are overheating, so watch out for a sudden reversal.
Will the market shift direction next?