The rise in WLD this time is not visible only on the price chart: while the price rose 5.7%, spot volume increased by 179%, and buyers' share of taker trades climbed to 57.3%. The notable increase in the number of transactions also suggests that the move was not driven by a small number of large trades.
The fact that price, volume, and market participation are all moving in the same direction supports the rally with a stronger spot confirmation; however, since there is no open interest or funding data on the futures side, leverage contribution cannot be confirmed. The key point to watch is whether buyer flow and high trading activity will be sustained in the next candles.
The fact that price, volume, and market participation are all moving in the same direction supports the rally with a stronger spot confirmation; however, since there is no open interest or funding data on the futures side, leverage contribution cannot be confirmed. The key point to watch is whether buyer flow and high trading activity will be sustained in the next candles.