Up nearly 40% over 24 hours, but the latest complete hour gave back 5.57%. Public Binance data at 02:06 (UTC) showed that $LSK spot and perpetual prices were up 39.05% and 36.72%, respectively, over 24 hours; over the last 4 complete hours, perpetuals were still up 9.85%, with trading volume 4.15 times that of the previous window.
As prices pulled back, quantity-based OI instead increased 3.37% in the last hour, while the funding rate indicator stood at around -0.4016%; however, the 30-point OI window still contracted 11.65%. This looks more like short-term positions rebuilding alongside medium-term deleveraging. Deeply negative funding rates alone are not enough to conclude that a short squeeze will continue.
⚠️ Trading volume in the previous hour fell 54.41% from the hour before, and spot also dropped 5.17% over the same period, indicating that buying support at higher levels has cooled. The current, still-open hour has rebounded about 1.59%, which is not yet enough to confirm that the pullback is over.
Only if a complete hourly candle gets back above 0.24094 USDT, accompanied by simultaneous increases in volume and OI, would there be grounds for the rally to continue. If the price falls below 0.22261 USDT while OI continues to rise, I would first guard against further amplification of high-leverage volatility.
* NFA, DYOR
As prices pulled back, quantity-based OI instead increased 3.37% in the last hour, while the funding rate indicator stood at around -0.4016%; however, the 30-point OI window still contracted 11.65%. This looks more like short-term positions rebuilding alongside medium-term deleveraging. Deeply negative funding rates alone are not enough to conclude that a short squeeze will continue.
⚠️ Trading volume in the previous hour fell 54.41% from the hour before, and spot also dropped 5.17% over the same period, indicating that buying support at higher levels has cooled. The current, still-open hour has rebounded about 1.59%, which is not yet enough to confirm that the pullback is over.
Only if a complete hourly candle gets back above 0.24094 USDT, accompanied by simultaneous increases in volume and OI, would there be grounds for the rally to continue. If the price falls below 0.22261 USDT while OI continues to rise, I would first guard against further amplification of high-leverage volatility.
* NFA, DYOR
