A Dangerous Signal Behind the 66% Surge: 58% of People Are Still Shorting.
USELESS moved very strongly over these 8 hours, with volume surging to 445 million USDT, and the price rising from 0.124 to 0.209. What’s interesting, though, is that in contract open interest, shorts make up 58%, while longs are only 42%.
This kind of divergence usually points to one of two things: either shorts are waiting for a pullback to add positions, or they haven’t realized the trend has already changed. Given that trading volume continues to expand and the candlesticks keep stepping higher, it looks more like the latter.
If the price keeps breaking above the prior high at 0.213, these shorts will be forced to close, which could trigger a burst of accelerated upside. Of course, if there’s a pullback below 0.185, this logic will fail.
I’ll place a small long near 0.205, with a stop loss set below 0.19.
$USELESS #空头挤压 #66%涨幅
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