ETH is looking interesting here: price is up just 0.29%, while OI is climbing—up 0.06% over 15m and 0.16% over 1h. Its notional change ranks second across the entire pool, with an anomaly percentile of 82.7%. New leveraged longs are entering; this isn’t a hollow bounce caused by shorts covering.
But the aggressive trade imbalance is -3.7%, and the buy/sell ratio is 0.93, so buying pressure isn’t as strong as you might expect. Binance saw $345K in liquidations over 5m, with liquidations more concentrated on the buy side. Price has just reached the edge of its recent range, where liquidation pressure is building.
My take: bulls are pushing up against the boundary, but volume is only 0.83x. With leverage rising on declining volume, a breakout needs genuine follow-through buying; otherwise, it’s just providing liquidity for sellers above. Watch whether price can break through the boundary on rising volume. If it can’t, be careful—these new longs could become fuel.
But the aggressive trade imbalance is -3.7%, and the buy/sell ratio is 0.93, so buying pressure isn’t as strong as you might expect. Binance saw $345K in liquidations over 5m, with liquidations more concentrated on the buy side. Price has just reached the edge of its recent range, where liquidation pressure is building.
My take: bulls are pushing up against the boundary, but volume is only 0.83x. With leverage rising on declining volume, a breakout needs genuine follow-through buying; otherwise, it’s just providing liquidity for sellers above. Watch whether price can break through the boundary on rising volume. If it can’t, be careful—these new longs could become fuel.