$ELSA is getting crowded faster than it's climbing.
Price gained 3.1%, but open interest jumped 44% in just one hour. That gap bothers me.
Volume is 3.5x normal, so buyers are clearly active. But liquidity is thin, with OI still under $4M.
One failed push could leave late longs rushing for the same exit.
I'm watching $0.118 first, then $0.132 if momentum holds. Below $0.0899, my bullish idea is invalid.
I like the buying pressure here. What I don't like is how quickly this could turn into a squeeze against those same buyers.
Price gained 3.1%, but open interest jumped 44% in just one hour. That gap bothers me.
Volume is 3.5x normal, so buyers are clearly active. But liquidity is thin, with OI still under $4M.
One failed push could leave late longs rushing for the same exit.
I'm watching $0.118 first, then $0.132 if momentum holds. Below $0.0899, my bullish idea is invalid.
I like the buying pressure here. What I don't like is how quickly this could turn into a squeeze against those same buyers.
