SYRUP has seen a 34% increase largely due to futures traders opening long positions. The trading community displays bullish confidence as indicated by significant bets, with the Taker Buy/Sell Ratio over 1, and an Open Interest Weighted Funding Rate of 0.0022%.
However, selling pressure is amplifying, with more than 1.3 million USD worth of SYRUP sold in a single day. This could jeopardize the recent upward trend, emphasizing the need for caution as market participants react to spot trading dynamics.
An examination of liquidity reveals no strong directional bias for SYRUP. While there is robust liquidity above the current price, unfilled orders below may prompt a potential reversal if upward momentum fails.
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