SNDK is now around 1253. From 1214 all the way here, the price has climbed above two short moving averages. The 4-hour chart is also trending slightly upward, and it looks like it may be turning stronger.
But the market action of this setup is a bit shaky. In the spot order book, the sell orders are clearly thicker than the buys. In the actively matched trades, the buy side doesn’t even take up half, and volume is still shrinking. Relying on this kind of volume to push higher doesn’t feel solid.
On the futures side, open interest is still building and the funding rate has turned positive, yet the price just won’t move. As positions get piled up and the price can’t be pushed, this combination usually isn’t an acceleration—it’s more like it’s waiting for a decision.
The big players are also being cautious: although accounts and positions are still about 70% long, over the past roughly seven hours the long position was cut by nearly 10%, and the action is more prudent.
So at this level, I won’t chase longs or rush to short. I’ll first see which direction it takes. Only when it holds above the top of the 24h high at 1287 can it be called a real strengthening; if it breaks below the 50 line and gives back this run-up, then consider other possibilities.
For now, it’s just waiting for direction—waiting for the capital to make a clear statement.
#sndk $SNDK
But the market action of this setup is a bit shaky. In the spot order book, the sell orders are clearly thicker than the buys. In the actively matched trades, the buy side doesn’t even take up half, and volume is still shrinking. Relying on this kind of volume to push higher doesn’t feel solid.
On the futures side, open interest is still building and the funding rate has turned positive, yet the price just won’t move. As positions get piled up and the price can’t be pushed, this combination usually isn’t an acceleration—it’s more like it’s waiting for a decision.
The big players are also being cautious: although accounts and positions are still about 70% long, over the past roughly seven hours the long position was cut by nearly 10%, and the action is more prudent.
So at this level, I won’t chase longs or rush to short. I’ll first see which direction it takes. Only when it holds above the top of the 24h high at 1287 can it be called a real strengthening; if it breaks below the 50 line and gives back this run-up, then consider other possibilities.
For now, it’s just waiting for direction—waiting for the capital to make a clear statement.
#sndk $SNDK