$LAB made a decisive 15m move, surging 1.89% straight through the upper bound of nearly the last 20 5m candles. Volume was 1.76x, volatility Z reached 2.48, and the aggressive buy/sell delta was +9.5%—buyers were clearly stronger.
But the open interest is interesting: OI was negative on both the 15m and 1h timeframes. Price rose while positions declined, which looks more like a rally driven by short covering than new longs entering. The anomaly percentile is nearing 90%, ranking #9 across the entire pool. There’s plenty of buzz, but be cautious about chasing this structure higher—the big question is who will take over once the short covering is done. First, let’s see if price can hold above the top of this range.
But the open interest is interesting: OI was negative on both the 15m and 1h timeframes. Price rose while positions declined, which looks more like a rally driven by short covering than new longs entering. The anomaly percentile is nearing 90%, ranking #9 across the entire pool. There’s plenty of buzz, but be cautious about chasing this structure higher—the big question is who will take over once the short covering is done. First, let’s see if price can hold above the top of this range.