There’s something notable about FET’s 15m breakdown.
The price drop of 0.57% isn’t huge, but volume surged to 3.16x, suggesting this wasn’t a gradual slide—someone was really dumping. The close broke below the lower bound of the recent 20-candle 5m range, aggressive trade delta was -16.9%, and the buy/sell ratio was 0.71, showing clear seller dominance.
But the key is OI: -0.69% on the 15m, -0.65% on the 1h, with an anomaly percentile of 94% and ranked #7 across the entire pool. Price down + OI down looks more like longs deleveraging and getting stopped out than new shorts entering.
This structure doesn’t rule out a short-term bounce, but first, watch for when this wave of deleveraging stops.
The price drop of 0.57% isn’t huge, but volume surged to 3.16x, suggesting this wasn’t a gradual slide—someone was really dumping. The close broke below the lower bound of the recent 20-candle 5m range, aggressive trade delta was -16.9%, and the buy/sell ratio was 0.71, showing clear seller dominance.
But the key is OI: -0.69% on the 15m, -0.65% on the 1h, with an anomaly percentile of 94% and ranked #7 across the entire pool. Price down + OI down looks more like longs deleveraging and getting stopped out than new shorts entering.
This structure doesn’t rule out a short-term bounce, but first, watch for when this wave of deleveraging stops.