$LIT This drop is looking pretty serious. On the 15m chart, volume surged to more than 6 times its usual level, and price broke below the lows of the past 20 5m candles. Aggressive trade delta was -11.5%, and the buy/sell ratio fell to just 0.79—clear signs that sellers are driving the move.
What’s more interesting is OI: price fell, but OI kept rising over several consecutive periods—up 0.49% on the 1h, with an anomaly percentile of 87.9%, and the pool-wide notional change ranked #18. This structure looks less like a cascade of long stop-outs and more like new leveraged shorts entering. The funding rate is also still at a high percentile relative to recent levels, suggesting shorts are willing to pay to hold their positions.
However, notional change is negative (-539K / -841K USDT), which means the increase in positions also includes some notional shrinkage from positions being closed. Whether new shorts are in control or both sides are adding to a wager remains to be seen—watch whether the next candle can hold above the lower end of the range. The breakdown has happened; continuation still needs confirmation. Don’t rush to chase it.
What’s more interesting is OI: price fell, but OI kept rising over several consecutive periods—up 0.49% on the 1h, with an anomaly percentile of 87.9%, and the pool-wide notional change ranked #18. This structure looks less like a cascade of long stop-outs and more like new leveraged shorts entering. The funding rate is also still at a high percentile relative to recent levels, suggesting shorts are willing to pay to hold their positions.
However, notional change is negative (-539K / -841K USDT), which means the increase in positions also includes some notional shrinkage from positions being closed. Whether new shorts are in control or both sides are adding to a wager remains to be seen—watch whether the next candle can hold above the lower end of the range. The breakdown has happened; continuation still needs confirmation. Don’t rush to chase it.