🚨 $NEAR BREAKOUT — BUT WATCH THE LEVERAGE
The chart is giving 2021 $SOL vibes after breaking a 2.5Y trendline.
But the tape tells a different story:
• ~$3B futures vs ~$630M spot • OI around $1.5B • Longs paying ~0.01% funding • Hyperliquid OI near $370M • ~$26M 10x long, liquidation around $1.35 • Short liquidity stacked around $6.18–$7.25
If spot liquidity stays this thin, perps could be driving the move more than real spot demand.
Now the key question: does that HL short shelf absorb the pressure or get swept? 👀
The chart is giving 2021 $SOL vibes after breaking a 2.5Y trendline.
But the tape tells a different story:
• ~$3B futures vs ~$630M spot • OI around $1.5B • Longs paying ~0.01% funding • Hyperliquid OI near $370M • ~$26M 10x long, liquidation around $1.35 • Short liquidity stacked around $6.18–$7.25
If spot liquidity stays this thin, perps could be driving the move more than real spot demand.
Now the key question: does that HL short shelf absorb the pressure or get swept? 👀
