LINK

LINK OI at 5.89M contracts (+2.6% 24h) but price declined ~2.4% from 8.80 to 8.59, creating a bearish divergence. Rising OI with falling price indicates shorts are aggressively accumulating at lower levels. The pair saw OI peak at ~6.18M on March 5-6, then collapse to ~5.7M on March 7 during the price crash, and has since partially recovered. Current OI sits -1.2% below 7-day average, suggesting deleveraging occurred but new short positions are being reopened. No funding data available to confirm crowding, but the price-OI divergence alone signals bearish momentum. Support at 8.55 with resistance building at 8.85-9.00.