$SNDK Now around 1309, the price climbed another step. It looks strong, but this money still hasn’t kept up.
Just earlier, I stepped over that wall from 1215 to 1222. For four hours straight, it kept pushing upward, and all the moving averages turned back up. The 24-hour chart pulled up by more than three points. But if you look behind the contract, it’s only a bit more than 40%—the side actively paying up. The sell orders are pressing down as it goes. And the funding rate even flipped straight into negative.
With a negative funding rate the price is still rising—doesn’t that just mean the shorts are stubbornly refusing to admit defeat? Over on the whales’ side, it’s even tougher. The longs’ positions got cut by half a percent in a day, and the long exposure ratio dropped by two percentage points. Everyone is trying to see who can run first.
The order book is the same story too: sell orders are pinned down hard, the bid side is painfully thin, and nobody is stepping in to take it.
The price went up, but there wasn’t enough follow-through buying. In this kind of spot, chasing longs has mediocre cost-effectiveness. I won’t argue with you about how strong it is. Just based on this order book and this funding rate, I’ll watch for now—until the money truly catches up. Pre-play the outcome in advance.
#sndk $SNDK
Just earlier, I stepped over that wall from 1215 to 1222. For four hours straight, it kept pushing upward, and all the moving averages turned back up. The 24-hour chart pulled up by more than three points. But if you look behind the contract, it’s only a bit more than 40%—the side actively paying up. The sell orders are pressing down as it goes. And the funding rate even flipped straight into negative.
With a negative funding rate the price is still rising—doesn’t that just mean the shorts are stubbornly refusing to admit defeat? Over on the whales’ side, it’s even tougher. The longs’ positions got cut by half a percent in a day, and the long exposure ratio dropped by two percentage points. Everyone is trying to see who can run first.
The order book is the same story too: sell orders are pinned down hard, the bid side is painfully thin, and nobody is stepping in to take it.
The price went up, but there wasn’t enough follow-through buying. In this kind of spot, chasing longs has mediocre cost-effectiveness. I won’t argue with you about how strong it is. Just based on this order book and this funding rate, I’ll watch for now—until the money truly catches up. Pre-play the outcome in advance.
#sndk $SNDK
