$MINA This wave is a bit interesting.
In the 15m timeframe, it’s up 3.44% and the volume directly hit 3.81x. The volatility (Z) reached 5.72, and the closing price even broke above the upper band of the last 20 5m candles.
But the key point isn’t the price—it’s the OI.
The 15m OI is -0.37%, yet the notional is +3.09%. In the 1h timeframe, OI is +0.54% and the notional is +2.54%. The OI abnormal percentile is 99.4%—
#1 in the whole pool, and
#38 in notional changes.
Price is rising, but OI isn’t keeping up. This structure is more like short covering or positions being passively unwound, not like a large influx of new longs.
Active trades are off by 3.9%, with a buy/sell ratio of 1.08. The buy side has a slight advantage, but not to an overwhelming extent.
The 24h turnover is 19.78M USDT. The depth is there—multiple consecutive periods show follow-through, so it isn’t just a single wick.
My take is: in this kind of position, either shorts are being forced into a corner, or someone is trying a probing push. With such an extreme percentile and the
#1 rank in the whole pool, it’s worth watching whether subsequent OI can turn positive. If OI continues to diverge, then the sustainability of this rebound will have to be questioned.
Let’s watch for now—no rush to act.