$XPL This setup is interesting. A 0.89% move in 15m isn’t huge, but OI is moving with it—the 1h contract is up 0.72%, with notional up by 680K U. Combined with a 1.29 buy/sell ratio and a 12.8% taker-flow imbalance, this looks more like new longs entering with leverage than shorts covering. Price has just moved above the top of the recent 20-bar 5m range, and the funding rate is also near a recent high percentile, so chasing longs isn’t cheap. There’s confirmation from market depth, but when funding is elevated, the biggest risk is a fake breakout followed by a shakeout. Keep a close eye on whether price can hold above the top of this range; only talk continuation once it holds.