Held the position overnight and it “skimmed” 12.67% for a day. I thought it was leverage and rushed to add another batch. Turns out within a few hours the whole chart vibe changed: the futures order book, after seven hours, brought the balance back by 6.78%—price climbed from 1522 back up to 1556. The two 15-minute moving averages also got stepped back onto by price; the money that was pulled out came back.
The toughest part is the aggressive buy side. Over seven hours, the taker volume was 65.59%. Aggressive buying accounted for 55.5%, with the long/short ratio at 1.25. This isn’t just shorts covering to prop things up—it’s genuinely new long positions with real money. The bids themselves pushed the price up.
Spot order book also followed along: the buy orders are 3.73 times the sell orders, with solid support under 1557. The 4-hour and daily trend both still indicate UP. On the whale side, net longs are still being pressed at 64.46%, and the main buyers who covered haven’t scattered.
But don’t get greedy either. In the whale accounts over the seven hours, positions shrank by 8.96%. As for spot, there’s still zero net inflow from large orders. This move is entirely propped up by the futures book itself—there’s no real-money backing. I’m bullish on $SNDK ; I’ll first target that resistance range at 1586–1590. If one day it breaks down below the 20-line at 1544, or if the position turns and starts “skimming” again, I’ll pull the long position directly.
#sndk $SNDK
The toughest part is the aggressive buy side. Over seven hours, the taker volume was 65.59%. Aggressive buying accounted for 55.5%, with the long/short ratio at 1.25. This isn’t just shorts covering to prop things up—it’s genuinely new long positions with real money. The bids themselves pushed the price up.
Spot order book also followed along: the buy orders are 3.73 times the sell orders, with solid support under 1557. The 4-hour and daily trend both still indicate UP. On the whale side, net longs are still being pressed at 64.46%, and the main buyers who covered haven’t scattered.
But don’t get greedy either. In the whale accounts over the seven hours, positions shrank by 8.96%. As for spot, there’s still zero net inflow from large orders. This move is entirely propped up by the futures book itself—there’s no real-money backing. I’m bullish on $SNDK ; I’ll first target that resistance range at 1586–1590. If one day it breaks down below the 20-line at 1544, or if the position turns and starts “skimming” again, I’ll pull the long position directly.
#sndk $SNDK
