ENA’s setup looks interesting. The price is down 1.12% over 15 minutes, but OI is rising across both timeframes: +3.05% over 1h and +2.89% over 15m, with notional change close to 2M USDT. This isn’t longs adding to their positions: the taker flow imbalance is -53.1%, the buy/sell ratio is 0.31, and selling pressure is clearly dominant. Combined with funding rates recently being in a high percentile, this looks more like new leveraged shorts entering.
The OI anomaly percentile has reached 95.4%, ranking 8th across the entire pool, while notional change ranks 7th. This has persisted over several consecutive timeframes. This kind of structure usually means shorts are piling in, but it also means there could be a sharp move if they get squeezed in the opposite direction.
My take: chasing shorts here doesn’t offer great risk-reward. I’d wait for the price to hold steady near the lows and for OI to stop building, then see if there’s a chance to take the other side. 24h trading volume is 370M, so liquidity is sufficient—no need to rush.
The OI anomaly percentile has reached 95.4%, ranking 8th across the entire pool, while notional change ranks 7th. This has persisted over several consecutive timeframes. This kind of structure usually means shorts are piling in, but it also means there could be a sharp move if they get squeezed in the opposite direction.
My take: chasing shorts here doesn’t offer great risk-reward. I’d wait for the price to hold steady near the lows and for OI to stop building, then see if there’s a chance to take the other side. 24h trading volume is 370M, so liquidity is sufficient—no need to rush.
