Price is 2.8 ATRs below the 1D EMA20, so shorting this far from the mean is late. 1D RSI is 27.6. Selling is stretched; the next bounce attempt matters. The last closed 1D candle traded 4.4x its 20-period average volume.
On the daily chart $SOXLB is below EMA20 (135.68) and EMA50 (136.17). It takes a close back over EMA50 to change that. If 128.57 gives way on a closing basis, 133.85 is next.
$SOXLB is 15.3% behind $XRP (-2.31%) on the day; $SNDKB , -9.24%, is tracking a similar path.
On the daily chart $SOXLB is below EMA20 (135.68) and EMA50 (136.17). It takes a close back over EMA50 to change that. If 128.57 gives way on a closing basis, 133.85 is next.
$SOXLB is 15.3% behind $XRP (-2.31%) on the day; $SNDKB , -9.24%, is tracking a similar path.