Jiang Chen will take everyone through this $SNDK 1-hour chart. After forming a base around 1321, the price staged a series of bullish rebounds, climbing to a high near 1412. It is currently trading around 1402. The price has now touched the upper Bollinger Band, where it has encountered clear technical resistance. The upward momentum has slowed, and no decisive breakout has formed.
Looking closely at these candlesticks, after the price moved above 1400, the latest candle turned bearish, suggesting that short-term traders are increasingly willing to take profits and that selling pressure is beginning to emerge. In addition, the current price has moved well away from the middle Bollinger Band, and short-term indicators appear slightly overbought. Jiang Chen’s personal view is that although the bottom-reversal structure remains intact, the market has entered a consolidation phase after stalling at higher levels. In the short term, it may need to pull back toward the middle band. $BTC $ETH #股票财报季
Looking closely at these candlesticks, after the price moved above 1400, the latest candle turned bearish, suggesting that short-term traders are increasingly willing to take profits and that selling pressure is beginning to emerge. In addition, the current price has moved well away from the middle Bollinger Band, and short-term indicators appear slightly overbought. Jiang Chen’s personal view is that although the bottom-reversal structure remains intact, the market has entered a consolidation phase after stalling at higher levels. In the short term, it may need to pull back toward the middle band. $BTC $ETH #股票财报季