Structurally, the contract data and price for $Q have diverged (open interest is down while the price is up): 24-hour open interest -38.24%, price +74.71%, current price 0.131.
Watch for two things next:
First, whether open interest stops falling and starts to recover—a recovery often indicates new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price struggles to rise, it likely means short covering is nearly over.
#Q
Watch for two things next:
First, whether open interest stops falling and starts to recover—a recovery often indicates new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price struggles to rise, it likely means short covering is nearly over.
#Q