$SNDK has broken below key support—if you’re looking to buy the dip, don’t rush in and catch a falling knife!
Guys, this market is really wearing us down! The price slid all the way from 1440 to 1338.55, and the key line of defense at 1384.78 gave way just like that, without even a decent fight. We’re now only a few steps above the intraday low of 1334.72. The daily loss of 1.52% may not look dramatic, but the weekly chart has now printed five consecutive down candles. This is no joke!
What’s more, trading volume hasn’t shown any clear panic-driven spike. This kind of decline is the most grueling: instead of one big bearish candle scaring you out, the market drops a little each day, slowly wearing down your patience. The bears aren’t rushing to attack, while the bulls have already been ground down and lost their nerve.
Here’s what matters on the chart! 1384.78 has turned from support into resistance. Until the price can climb back above it, treat any rebound as a weak recovery. Below, 1334.72 is the key support to watch right now. If it breaks decisively, the market may continue lower in search of its next support.
Trading plan: The short-term outlook is bearish, so there’s no need to rush into buying the dip. Keep an eye on whether the area around 1334 can hold, and whether the price faces clear resistance if it rebounds to the 1385 area. If it recovers 1385 on strong volume, reassess the bearish momentum. If support gives way, don’t blindly chase the drop either—watch out for a sudden bounce.
Luo Jie will keep tracking market developments and possible responses. There are opportunities every day, and you won’t miss out by sitting this one out. Protect your capital first—that’s what gives you a chance to profit from the next move!#PatrickWitt卸任白宫加密职务 #Bastion就SOL出售向SkyAI施压
Guys, this market is really wearing us down! The price slid all the way from 1440 to 1338.55, and the key line of defense at 1384.78 gave way just like that, without even a decent fight. We’re now only a few steps above the intraday low of 1334.72. The daily loss of 1.52% may not look dramatic, but the weekly chart has now printed five consecutive down candles. This is no joke!
What’s more, trading volume hasn’t shown any clear panic-driven spike. This kind of decline is the most grueling: instead of one big bearish candle scaring you out, the market drops a little each day, slowly wearing down your patience. The bears aren’t rushing to attack, while the bulls have already been ground down and lost their nerve.
Here’s what matters on the chart! 1384.78 has turned from support into resistance. Until the price can climb back above it, treat any rebound as a weak recovery. Below, 1334.72 is the key support to watch right now. If it breaks decisively, the market may continue lower in search of its next support.
Trading plan: The short-term outlook is bearish, so there’s no need to rush into buying the dip. Keep an eye on whether the area around 1334 can hold, and whether the price faces clear resistance if it rebounds to the 1385 area. If it recovers 1385 on strong volume, reassess the bearish momentum. If support gives way, don’t blindly chase the drop either—watch out for a sudden bounce.
Luo Jie will keep tracking market developments and possible responses. There are opportunities every day, and you won’t miss out by sitting this one out. Protect your capital first—that’s what gives you a chance to profit from the next move!#PatrickWitt卸任白宫加密职务 #Bastion就SOL出售向SkyAI施压