$PONS This setup is pretty interesting.
On the 15m timeframe, price dropped on a surge in volume, which jumped to 2.04x, but OI fell instead of rising: -0.42% on 15m and -0.27% on 1h, with nearly 1 million U in notional volume. This doesn’t look like new shorts entering; it looks more like longs are gradually getting squeezed out, either through stop-losses or voluntary position cuts.
The taker volume delta is -22.1%, and the buy/sell ratio is 0.64, so selling pressure is clearly dominant. Price has also broken below the lower bound of the last 20 5m candles, weakening the short-term structure.
The OI anomaly percentile is 92.3%, ranking #25 across the entire pool, which makes this signal stand out in the monitored pool. But note that this is a combination of “price down + OI down,” not the kind of smooth decline you see when shorts are adding positions. This kind of deleveraging pullback can sometimes mean positions are simply changing hands.
24h trading volume is 52M, so liquidity is sufficient; it’s unlikely to create a deep hole with no buyers stepping in. First, watch for when this wave of deleveraging stops. If OI stabilizes but price keeps grinding lower, that’s when you should really be cautious.
On the 15m timeframe, price dropped on a surge in volume, which jumped to 2.04x, but OI fell instead of rising: -0.42% on 15m and -0.27% on 1h, with nearly 1 million U in notional volume. This doesn’t look like new shorts entering; it looks more like longs are gradually getting squeezed out, either through stop-losses or voluntary position cuts.
The taker volume delta is -22.1%, and the buy/sell ratio is 0.64, so selling pressure is clearly dominant. Price has also broken below the lower bound of the last 20 5m candles, weakening the short-term structure.
The OI anomaly percentile is 92.3%, ranking #25 across the entire pool, which makes this signal stand out in the monitored pool. But note that this is a combination of “price down + OI down,” not the kind of smooth decline you see when shorts are adding positions. This kind of deleveraging pullback can sometimes mean positions are simply changing hands.
24h trading volume is 52M, so liquidity is sufficient; it’s unlikely to create a deep hole with no buyers stepping in. First, watch for when this wave of deleveraging stops. If OI stabilizes but price keeps grinding lower, that’s when you should really be cautious.