Q: Over $PUMP 24 hours, open interest fell by 13.51% while the price rose 9.99%. What does that indicate?
A: The rally was likely driven mostly by short covering, with no clear signs of new long positions entering so far. Short covering eventually runs its course. Whether the rally can continue depends on whether new capital comes in.
A: The rally was likely driven mostly by short covering, with no clear signs of new long positions entering so far. Short covering eventually runs its course. Whether the rally can continue depends on whether new capital comes in.