$NOM This move has something behind it. It rose 4% in 15m, with volume surging to 2.88 times its usual level. The aggressive buy-sell imbalance was 13%, and the buy-sell ratio was 1.3—clearly, someone has been steadily scooping it up. More importantly, OI rose another 2.12% over 15m. Price and open interest both rose, strongly suggesting new leveraged longs are entering. OI's anomaly percentile is 99%—the highest in the entire pool—and it’s nearing historically extreme levels, with the surge continuing for several consecutive periods. The funding rate has also climbed to a recent high.
24h trading volume is only 7.84 million, so the pool isn’t particularly deep. This unusual volume, together with the closing price breaking above the highs of nearly 20 recent 5m candles, has ignited short-term sentiment. However, 1h OI is down 0.93%, which suggests there’s still some disagreement over the longer time frame. Don’t focus only on the bullish 15m picture. With this setup, it could either keep squeezing shorts or surge and then quickly pull back. If you chase it, size your position carefully.
24h trading volume is only 7.84 million, so the pool isn’t particularly deep. This unusual volume, together with the closing price breaking above the highs of nearly 20 recent 5m candles, has ignited short-term sentiment. However, 1h OI is down 0.93%, which suggests there’s still some disagreement over the longer time frame. Don’t focus only on the bullish 15m picture. With this setup, it could either keep squeezing shorts or surge and then quickly pull back. If you chase it, size your position carefully.