Technically, the contract data and price for $SOPH have diverged (open interest is rising while the price is falling): 24-hour open interest +28.95%, price -6.77%, current price 0.00159.
Next, watch for two things:
First, whether open interest continues to rise—further increases could mean bears are still pressing their attack. Second, whether the price can recover its losses on a rebound with increased volume; if it does, watch out for bears covering their positions en masse.
#SOPH
Next, watch for two things:
First, whether open interest continues to rise—further increases could mean bears are still pressing their attack. Second, whether the price can recover its losses on a rebound with increased volume; if it does, watch out for bears covering their positions en masse.
#SOPH
