SKHYNIX is now around 1032. The recent high around 1167 from the past couple of days has dropped by 12%, and it’s been grinding in the low zone.
First, the outlook is fairly good. Price has been holding steadily above the moving average lines. Although the 4-hour trend hasn’t moved into a clear one-way direction, the lows have held—no new lows have been made. Funding/fee rate is hugging zero, leverage isn’t crowded at all, and longs haven’t been overfilled.
On the contract side, the share of aggressive buy orders is still over 50%. Whale accounts have longs at nearly 90%. Big capital is still on the long side.
But there are also issues. The buy-side momentum on the 7-hour timeframe has fallen quite noticeably, and whale long positions have been trimmed slightly too. That suggests that after this surge, the amount of chasing money has started to drop. After price came down from the highs, the “repair” hasn’t clearly formed a real direction yet—on the daily chart, it has only printed one candle.
At this level, I’m not in a rush to pick a side. Longs haven’t broken down, but there’s also no signal of funds adding back aggressively. This is basically a watch-and-observe zone after a drop.
The key is whether later it can increase volume and regain a position above, or whether a pullback to the low will have buyers stepping in. Waiting for the funds to give the answer is more comfortable than hard-guessing the direction right now.
#skhynix $SKHYNIX
First, the outlook is fairly good. Price has been holding steadily above the moving average lines. Although the 4-hour trend hasn’t moved into a clear one-way direction, the lows have held—no new lows have been made. Funding/fee rate is hugging zero, leverage isn’t crowded at all, and longs haven’t been overfilled.
On the contract side, the share of aggressive buy orders is still over 50%. Whale accounts have longs at nearly 90%. Big capital is still on the long side.
But there are also issues. The buy-side momentum on the 7-hour timeframe has fallen quite noticeably, and whale long positions have been trimmed slightly too. That suggests that after this surge, the amount of chasing money has started to drop. After price came down from the highs, the “repair” hasn’t clearly formed a real direction yet—on the daily chart, it has only printed one candle.
At this level, I’m not in a rush to pick a side. Longs haven’t broken down, but there’s also no signal of funds adding back aggressively. This is basically a watch-and-observe zone after a drop.
The key is whether later it can increase volume and regain a position above, or whether a pullback to the low will have buyers stepping in. Waiting for the funds to give the answer is more comfortable than hard-guessing the direction right now.
#skhynix $SKHYNIX