$EVAA This 15m move was pretty decisive: a 2.71% surge broke straight through the top of the range from the last 20 5m candles, with volume rising to 2.58x and a Z-score of 4.29. This wasn't just a fleeting wick.
OI rose along with it, up 0.14% over 15m and 0.08% over 1h. The notional change wasn't large, but the direction was consistent, suggesting new leveraged longs are driving the move rather than passive short covering. Aggressive trade imbalance was 8.3%, and the buy/sell ratio was 1.18, indicating some buying initiative.
Pool-wide anomaly rank #28, notional change rank #16, and depth all confirm the move, with volume above normal. 24h trading volume is 41M, and the pool isn't very deep. If volume doesn't follow through after a breakout at this level, it could easily turn into a false breakout and pull back. But if OI keeps building and the price holds above the range high, short-term sentiment may have further to run.
Watch how it holds on a retest of the range high; don't chase the move.
OI rose along with it, up 0.14% over 15m and 0.08% over 1h. The notional change wasn't large, but the direction was consistent, suggesting new leveraged longs are driving the move rather than passive short covering. Aggressive trade imbalance was 8.3%, and the buy/sell ratio was 1.18, indicating some buying initiative.
Pool-wide anomaly rank #28, notional change rank #16, and depth all confirm the move, with volume above normal. 24h trading volume is 41M, and the pool isn't very deep. If volume doesn't follow through after a breakout at this level, it could easily turn into a false breakout and pull back. But if OI keeps building and the price holds above the range high, short-term sentiment may have further to run.
Watch how it holds on a retest of the range high; don't chase the move.