$GALA These 15 minutes have been pretty brutal: volume surged to 27 times its usual level, while the price fell just 1.29%. The volume anomaly percentile hit 98.6%, ranking third across the whole pool.
The structure looks more like long liquidations—OI down 2.12% over 15m and 2.25% over 1h, with price falling and open interest shrinking. The aggressive trade delta is -55.9%, and the buy/sell ratio is 0.28. Clearly, stop-loss orders and panic selling are driving the price down, rather than new shorts entering.
The close has already broken below the lower end of the last 20 five-minute candles, and volume confirms the move. The only consolation is that 24h trading volume is just 7M, so the pool is shallow and thin liquidity makes it prone to wick moves. Shorting here risks getting caught in a rebound, while there’s still no sign of support for going long. First, let’s see when this wave of deleveraging stops—no need to rush in.
The structure looks more like long liquidations—OI down 2.12% over 15m and 2.25% over 1h, with price falling and open interest shrinking. The aggressive trade delta is -55.9%, and the buy/sell ratio is 0.28. Clearly, stop-loss orders and panic selling are driving the price down, rather than new shorts entering.
The close has already broken below the lower end of the last 20 five-minute candles, and volume confirms the move. The only consolation is that 24h trading volume is just 7M, so the pool is shallow and thin liquidity makes it prone to wick moves. Shorting here risks getting caught in a rebound, while there’s still no sign of support for going long. First, let’s see when this wave of deleveraging stops—no need to rush in.