$ERA This rally is interesting: the price is up 2.72%, but OI is falling—in the past 15m, it dropped 0.60%, and over 1h, it dropped 0.69%. Typical short covering, not new longs entering.
Volume is 1.54x, and the closing price just broke above the highs of the last 20 5m candles. The taker buy-sell volume difference is +2.0%. Buying is stronger, but it's driving shorts to close.
The OI anomaly percentile is 90.9%, ranked #10 across the entire pool, and this has persisted for several consecutive periods. I wouldn't chase this kind of setup; a short-covering rally can easily be a one-off move. I'll wait for OI to turn positive again.
Volume is 1.54x, and the closing price just broke above the highs of the last 20 5m candles. The taker buy-sell volume difference is +2.0%. Buying is stronger, but it's driving shorts to close.
The OI anomaly percentile is 90.9%, ranked #10 across the entire pool, and this has persisted for several consecutive periods. I wouldn't chase this kind of setup; a short-covering rally can easily be a one-off move. I'll wait for OI to turn positive again.