$ERA has made a pretty notable move. A 1.48% gain over 15m isn't outrageous, but OI has increased across both the 15m and 1h periods, with notional changes above 100,000 U in both. Its anomaly percentile hit 95.6%, ranking second across the entire pool. Price and open interest are both rising—a classic leveraged long-entry pattern, not the kind of artificial pop caused by short covering.
The closing price has broken above the highs of the last 20 or so 5m candles, and volume is 1.61 times its usual level. The aggressive buy/sell delta is +3.5%, so buyers are pushing. 24h trading volume is only 17M, so the pool is small; an OI spike of this magnitude is worth keeping an eye on in a small-cap market.
Whether the move continues depends on whether the price holds above the former high on a pullback. If chasing the move, watch for OI growth to slow—that would signal fading sentiment.
The closing price has broken above the highs of the last 20 or so 5m candles, and volume is 1.61 times its usual level. The aggressive buy/sell delta is +3.5%, so buyers are pushing. 24h trading volume is only 17M, so the pool is small; an OI spike of this magnitude is worth keeping an eye on in a small-cap market.
Whether the move continues depends on whether the price holds above the former high on a pullback. If chasing the move, watch for OI growth to slow—that would signal fading sentiment.