Looking only at price can make you miss a lot of information. $KAVA 1-hour open interest is up 9.23%, while price is down 3.71%. Compare the two:
Rising open interest, falling price: new shorts are actively entering the market.
As open interest keeps piling up, watch whether the funding rate is rising too. Would you dare to make a move at a level like this?
Rising open interest, falling price: new shorts are actively entering the market.
As open interest keeps piling up, watch whether the funding rate is rising too. Would you dare to make a move at a level like this?