SNDK is still around 1658u, basically unmoved from the 1660 I looked at yesterday. After that run-up, it has been consolidating sideways at high levels.
The conclusion is still the same: the trend hasn’t broken, but I won’t chase from this position. The 4-hour and daily are still pointing upward, and price is staying above the two moving averages. The issue is momentum—over the past 4 hours it’s only up 0.3%, and for the whole day it’s under 1%, which is totally different from the previous day’s +6% acceleration.
On the flows side, there’s also nothing new. There’s no effective signal from spot large orders; open interest on the futures is basically unchanged. Funding/fees are hugging 0 or even slightly negative. The longs aren’t crowded at all—no one is paying to push the price higher. In the whale accounts, the proportion of longs is only around 20%, and over the last 7 hours it has still been decreasing.
In plain terms, this is a high-level range-bound consolidation pattern: the moving averages are holding it up and the trend is intact, but there’s no sign of fresh capital pushing the price out of this range. It can’t move higher, but it also doesn’t look like it will drop deeply.
At this spot, chasing longs usually isn’t a great deal. If you want to act, wait for a pullback to the two moving averages and then confirmation of stabilization, or wait for a bullish breakout with volume on a strong K-line—then entering will be much more comfortable.
#sndk $SNDK
The conclusion is still the same: the trend hasn’t broken, but I won’t chase from this position. The 4-hour and daily are still pointing upward, and price is staying above the two moving averages. The issue is momentum—over the past 4 hours it’s only up 0.3%, and for the whole day it’s under 1%, which is totally different from the previous day’s +6% acceleration.
On the flows side, there’s also nothing new. There’s no effective signal from spot large orders; open interest on the futures is basically unchanged. Funding/fees are hugging 0 or even slightly negative. The longs aren’t crowded at all—no one is paying to push the price higher. In the whale accounts, the proportion of longs is only around 20%, and over the last 7 hours it has still been decreasing.
In plain terms, this is a high-level range-bound consolidation pattern: the moving averages are holding it up and the trend is intact, but there’s no sign of fresh capital pushing the price out of this range. It can’t move higher, but it also doesn’t look like it will drop deeply.
At this spot, chasing longs usually isn’t a great deal. If you want to act, wait for a pullback to the two moving averages and then confirmation of stabilization, or wait for a bullish breakout with volume on a strong K-line—then entering will be much more comfortable.
#sndk $SNDK