Here’s What I’m Watching on $EVAA
First, look at the Open Interest. $EVAA OI is around $12.8M, up 194.19% in the last 24 hours. This shows a sharp increase in open positions.
We can also see that around 55% of traders are long, while 45% are short. So, slightly more traders are expecting the price to move higher.
Now, look at the funding rate. Binance is at +0.0461%, while Bybit is at +0.0100%. This means long traders are paying short traders on both exchanges.
The volume chart also shows a huge spike during the earlier price move, but recent volume appears much lower. So, we need to watch whether buying volume starts increasing again.
In my view, if buying pressure returns, $EVAA could move higher. However, with Open Interest rising sharply and funding rates positive, a short-term correction is also possible.
NFA. DYOR.
First, look at the Open Interest. $EVAA OI is around $12.8M, up 194.19% in the last 24 hours. This shows a sharp increase in open positions.
We can also see that around 55% of traders are long, while 45% are short. So, slightly more traders are expecting the price to move higher.
Now, look at the funding rate. Binance is at +0.0461%, while Bybit is at +0.0100%. This means long traders are paying short traders on both exchanges.
The volume chart also shows a huge spike during the earlier price move, but recent volume appears much lower. So, we need to watch whether buying volume starts increasing again.
In my view, if buying pressure returns, $EVAA could move higher. However, with Open Interest rising sharply and funding rates positive, a short-term correction is also possible.
NFA. DYOR.
