$MANA This move is pretty textbook: the price fell 2.09% over 15m, but OI didn’t decline—instead, it rose 2.68% over 1h and 2.13% over 15m, while volume climbed to 2.72x. Price and open interest are diverging, which looks more like new shorts entering with leverage than existing longs getting liquidated.
The taker flow delta is -12.1%, the buy/sell ratio is 0.78, and selling pressure remains tilted to the downside. The OI anomaly percentile is 93.5%, ranking #5 across the pool, and it has persisted for several consecutive periods. Chasing shorts at a level like this risks getting caught in a rebound, though structurally, bears are still in control for now.
What I’m watching more closely is this: if the price stabilizes while OI continues to build, shorts will become increasingly crowded, which could end up providing fuel for a rebound. For now, let’s see whether this leveraged shorting can push the price down further.
The taker flow delta is -12.1%, the buy/sell ratio is 0.78, and selling pressure remains tilted to the downside. The OI anomaly percentile is 93.5%, ranking #5 across the pool, and it has persisted for several consecutive periods. Chasing shorts at a level like this risks getting caught in a rebound, though structurally, bears are still in control for now.
What I’m watching more closely is this: if the price stabilizes while OI continues to build, shorts will become increasingly crowded, which could end up providing fuel for a rebound. For now, let’s see whether this leveraged shorting can push the price down further.