6.10% of $VELVET open interest disappeared in 4 hours—but that is not fresh short conviction.
The failed-squeeze branch confirmed on a 0.6866 close with weak taker demand.
📉 OI contracted 2.35% in 1 hour and 6.10% in 4 hours.
🔍 Price still holds above both 30m EMAs.
⚡ Across 12 comparable failures, the median 24-hour rebound was 4.24%.
The read flips on either a supported reclaim above 0.710 or a break below 0.652 with genuine downside position rebuilding.
Which arrives first: 0.710 or 0.652?
#Altcoins #OpenInterest #TechnicalAnalysis #Write2Earn
Not financial advice. DYOR.
The failed-squeeze branch confirmed on a 0.6866 close with weak taker demand.
📉 OI contracted 2.35% in 1 hour and 6.10% in 4 hours.
🔍 Price still holds above both 30m EMAs.
⚡ Across 12 comparable failures, the median 24-hour rebound was 4.24%.
The read flips on either a supported reclaim above 0.710 or a break below 0.652 with genuine downside position rebuilding.
Which arrives first: 0.710 or 0.652?
#Altcoins #OpenInterest #TechnicalAnalysis #Write2Earn
Not financial advice. DYOR.