LYN rebounded from the bottom at 0.10007, surged to 0.15590 on the 15-minute chart, then oscillated around 0.15. The 24-hour increase exceeds 13%. While the upward movement appears fierce, it actually conceals strategic arrangements by the main players.

From the contract data, the total open interest is gradually decreasing, but the total value of holdings has not declined accordingly—indicating that large funds are still active in the market, merely taking profits in batches. More importantly, the proportion of short positions and the volume of short holdings remain high, while retail traders' long positions are clustered around 0.15, with buying momentum gradually diminishing during the rebound. All signs suggest that this is not institutional absorption but rather the main players quietly distributing chips.

The upcoming trend is likely to test higher levels, possibly even forming a large bullish candle—after all, there is still room for trap-shooting near the previous high of 0.15590. The hourly MACD also provides some short-term support for the bulls. However, the moment this large bullish candle appears, it coincides with the exhaustion of bullish momentum and trading volume. For traders looking to short, this could be the best entry point; for those who previously chased longs, it’s also time to exit the position.