$VVV ’s drop is interesting: 15m trading volume surged to over 11 times its previous level, but OI actually fell—both price and positions are moving down, a classic deleveraging move, not a dump caused by new shorts entering.
The taker volume delta was -18%, and the buy/sell ratio was 0.69, so selling pressure was indeed heavier. The close also fell below the lower end of the past 20 or so 5m candles. However, the OI anomaly percentile has already hit 98.4%, ranking 4th across the entire pool. That level of crowding suggests long positions had built up too much beforehand; this is now a process of stop-losses and position reduction.
24h trading volume is only 14M, and the pool is shallow. When volume surges like this in a small-cap coin, it can easily produce extreme wicks. First, watch for when this deleveraging wave stops. OI needs to stop falling before we can talk about stabilization—it’s too early to catch this falling knife.
The taker volume delta was -18%, and the buy/sell ratio was 0.69, so selling pressure was indeed heavier. The close also fell below the lower end of the past 20 or so 5m candles. However, the OI anomaly percentile has already hit 98.4%, ranking 4th across the entire pool. That level of crowding suggests long positions had built up too much beforehand; this is now a process of stop-losses and position reduction.
24h trading volume is only 14M, and the pool is shallow. When volume surges like this in a small-cap coin, it can easily produce extreme wicks. First, watch for when this deleveraging wave stops. OI needs to stop falling before we can talk about stabilization—it’s too early to catch this falling knife.