$ONE fell 1.09% over 15m, with volume rising to 1.74x. OI also dropped by nearly 2%, and notional value decreased by about 300k U—a typical long-side deleveraging move, with stop-loss orders getting swept. The interesting thing is that the taker volume delta is still positive at 6.5%, and the buy/sell ratio is 1.14, which suggests buyers are still stepping in below. The 1h change in OI notional actually turned positive, while shorts are also reducing their positions. This looks more like an overall contraction in positions than a one-sided sell-off. With this kind of setup, I usually don’t rush in. I’d first see whether volume can hold up—don’t let this red candle scare you out.