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Price and volume delta don't always agree — and when they don't, it's often the clearest early read you'll get on what a market maker is doing before the candle confirms it.
Cumulative Volume Delta (CVD) tracks the running difference between aggressive buy volume (market orders hitting the ask) and aggressive sell volume (market orders hitting the bid). It's a proxy for who's initiating trades, not just how much volume is trading.
Divergence happens when price and CVD stop agreeing — for example, price holds a level or continues higher while CVD is flat or declining. That mismatch usually means someone with size is absorbing the opposing flow without letting it move price.
AEON's scanner watches specifically for this pattern: retail sell pressure hitting the market while price refuses to drop, and CVD failing to make a new low alongside it. The read is that a larger passive order — often a market maker — is sitting on the bid and absorbing that flow. The inverse pattern (price holding a ceiling while buy pressure fails to push CVD higher) flags passive sell absorption.
This is shown as a live alert — PASSIVE BUY ABSORPTION DETECTED — with the specific exchange and a short description of what the CVD/price relationship looked like at detection.
Alongside divergence alerts, the monitor classifies the current market state into one of four regimes:
Passive buying absorbing sell flow at a level — often precedes a markup phase.
Passive selling absorbing buy flow near highs — often precedes markdown.
CVD and price are agreeing directionally — flow is confirming the move, not fighting it.
No clear absorption or directional agreement — chop, low-conviction conditions.
Below the regime tag, the footprint cluster shows bid/ask delta at price, flagging which side is dominant at the current level. A separate spread-dynamics read tracks live bid-ask width — a sudden widening with no corresponding volume spike is itself flagged as an anomaly, since it can indicate liquidity pulling back ahead of a move.
The same absorption logic extends on-chain: AEON tracks known market-maker and institutional wallets (Wintermute, GSR, Jump Trading, Cumberland, and major exchange hot wallets) for large transfers, tagging each as an inflow (to exchange — often precedes selling), outflow (from exchange — often precedes holding/OTC), or a private transfer between non-exchange addresses.
Divergence and regime data feed directly into the signal engine's conviction score — it's one of the inputs behind the "structure" and "volume" factors, not a separate tool you have to cross-reference manually.
Absorption and regime detection are probabilistic reads, not certainties. Large orders can be split, disguised, or simply wrong about direction. Use this alongside — not instead of — your own risk management.