$EVAA I'm bullish on this move—the reason is right there in the open interest.
It started around 1.32 at 5 a.m., spiked to 1.6032 at 7, and is now moving sideways around 1.50. A lot of people saw that long upper wick and called the top. I’m looking at a different set of numbers:
Futures open interest climbed from an overnight low of about 12.4 million U to 15 million U. It barely dropped during the pullback from the high, which suggests this wasn’t a quick pump and dump—someone has been steadily adding between 1.45 and 1.50.
The funding rate is +0.036%, so longs are willing to pay to hold their positions. But the account ratio across the market is 51.6% long to 48.4% short, so retail traders aren’t piling into longs en masse. Positions aren’t crowded yet.
It’s up 23% in 24 hours, with volume picking up noticeably from 6 to 8 and declining on the pullback.
A rally on rising volume, a pullback on falling volume, and open interest holding steady—that’s a classic buildup pattern. 1.45 is the key dividing line for this move. Holding above it means preparing for a second attempt at 1.6032. If it decisively breaks below 1.45, I’m out—no getting attached.
Do you think that upper wick was distribution or a shakeout? If you’re holding EVAA, share your entry price.
#EVAA #山寨币 #FuturesOpenInterest
It started around 1.32 at 5 a.m., spiked to 1.6032 at 7, and is now moving sideways around 1.50. A lot of people saw that long upper wick and called the top. I’m looking at a different set of numbers:
Futures open interest climbed from an overnight low of about 12.4 million U to 15 million U. It barely dropped during the pullback from the high, which suggests this wasn’t a quick pump and dump—someone has been steadily adding between 1.45 and 1.50.
The funding rate is +0.036%, so longs are willing to pay to hold their positions. But the account ratio across the market is 51.6% long to 48.4% short, so retail traders aren’t piling into longs en masse. Positions aren’t crowded yet.
It’s up 23% in 24 hours, with volume picking up noticeably from 6 to 8 and declining on the pullback.
A rally on rising volume, a pullback on falling volume, and open interest holding steady—that’s a classic buildup pattern. 1.45 is the key dividing line for this move. Holding above it means preparing for a second attempt at 1.6032. If it decisively breaks below 1.45, I’m out—no getting attached.
Do you think that upper wick was distribution or a shakeout? If you’re holding EVAA, share your entry price.
#EVAA #山寨币 #FuturesOpenInterest
