SNDK 1309, and it bounced back again.
It bounced from 1127 to 1340, then dropped to 1288 and pulled back to 1309. The same level was tested twice—each bounce is lower than the last, until it becomes unbelievable.
The trading volume jumped 25% in a day. It looks like money has entered. But whale accounts fell 13%, and positions are also being reduced. The price has come back, but the money is still moving out. When it was rising, the big players were exiting—I've seen this script too many times.
The taker sell orders are still higher than the buy orders. When the price goes up, the sell wall never really stops. Funding fees are negative: the shorts pay the longs, but the price just won’t climb. It takes a lot of effort to push it up, yet it gets dumped easily—this suggests there’s a significant amount of sell pressure overhead.
The issue now isn’t whether it can go up, but whether anyone is there to catch it after it rises. Open interest is stacked high, but the active buy orders can’t keep up. FOMO buyers are fewer. Every time it bounces, people run—this is how it always plays out.
If you believe them, your money is gone.
#sndk $SNDK
It bounced from 1127 to 1340, then dropped to 1288 and pulled back to 1309. The same level was tested twice—each bounce is lower than the last, until it becomes unbelievable.
The trading volume jumped 25% in a day. It looks like money has entered. But whale accounts fell 13%, and positions are also being reduced. The price has come back, but the money is still moving out. When it was rising, the big players were exiting—I've seen this script too many times.
The taker sell orders are still higher than the buy orders. When the price goes up, the sell wall never really stops. Funding fees are negative: the shorts pay the longs, but the price just won’t climb. It takes a lot of effort to push it up, yet it gets dumped easily—this suggests there’s a significant amount of sell pressure overhead.
The issue now isn’t whether it can go up, but whether anyone is there to catch it after it rises. Open interest is stacked high, but the active buy orders can’t keep up. FOMO buyers are fewer. Every time it bounces, people run—this is how it always plays out.
If you believe them, your money is gone.
#sndk $SNDK