$INJ is showing some strength on the 15m chart. Price is up 1.09%, volume has surged to 2.72x, the taker buy/sell ratio is 1.26, and the taker volume delta is 11.5%—buyers are putting real money behind the move.
The key is that OI is up 0.57% too, with a notional change of 372K. Structurally, this looks more like new leveraged longs entering than a passive rally driven by shorts closing. The OI anomaly percentile is 97.6%, ranking #10 across the entire pool, and it has continued for several consecutive periods. This is a fairly strong signal.
Price has already broken above the range of the last 20 5m candles, and the funding rate is also at a recent high percentile. Keep in mind that an elevated funding rate means longs are getting a bit crowded, so be cautious about chasing the move. But for now, volume and price are still moving in sync—let’s see if it can hold this level.
The key is that OI is up 0.57% too, with a notional change of 372K. Structurally, this looks more like new leveraged longs entering than a passive rally driven by shorts closing. The OI anomaly percentile is 97.6%, ranking #10 across the entire pool, and it has continued for several consecutive periods. This is a fairly strong signal.
Price has already broken above the range of the last 20 5m candles, and the funding rate is also at a recent high percentile. Keep in mind that an elevated funding rate means longs are getting a bit crowded, so be cautious about chasing the move. But for now, volume and price are still moving in sync—let’s see if it can hold this level.