VVV's 15m volume surged to 3.35x, while the price fell 2.78%, breaking below the low of the last 20 5m candles. Net taker flow was -33.7%, the buy/sell ratio was 0.50, and selling pressure dominated.
But OI fell rather than rose: -0.11% over 15m and -0.34% over 1h, with notional changes of -216K and -54K. This looks more like longs being deleveraged and stopped out than fresh short positions pushing the price down. Volume is expanding while open interest is contracting, and positions are changing hands. The key is whether the price can reclaim the range after this turnover.
But OI fell rather than rose: -0.11% over 15m and -0.34% over 1h, with notional changes of -216K and -54K. This looks more like longs being deleveraged and stopped out than fresh short positions pushing the price down. Volume is expanding while open interest is contracting, and positions are changing hands. The key is whether the price can reclaim the range after this turnover.
