🐳 $HYPE : Open interest is down, price is up. 24-hour open interest: -9.68%; current price: 80.96.
Worth thinking about: Who’s buying on the way up? When price rises while open interest falls, it often means the buying is mainly from shorts covering. Once they’ve covered, that buying dries up; a sustained move needs new long positions to take over.
Next, watch whether open interest rises or falls.
#HYPE
Worth thinking about: Who’s buying on the way up? When price rises while open interest falls, it often means the buying is mainly from shorts covering. Once they’ve covered, that buying dries up; a sustained move needs new long positions to take over.
Next, watch whether open interest rises or falls.
#HYPE