Q: $PUMP 24-hour open interest fell by 13.51%, while the price rose +9.99%. What does that mean?
A: This rally appears to be driven more by short covering; for now, there’s no sign of new long positions entering the market. Short covering can only go so far. Whether the rally continues depends on whether fresh buying comes in.
#PUMP
A: This rally appears to be driven more by short covering; for now, there’s no sign of new long positions entering the market. Short covering can only go so far. Whether the rally continues depends on whether fresh buying comes in.
#PUMP