$SNDK 1156.91, down 10.8% in the past 24 hours; SanDisk moved lower, and open interest shrank too 💾
During a 12-hour period that has now ended, open interest in SanDisk contracts fell by about 8.6%, while the price dropped about 4.1% over the same period.
This time, position contraction coincided with prices giving ground. A small bounce from the lows did not recover the distance lost in the earlier decline.
The decrease in open interest did not directly translate into price support; I see it as short covering near the lows. This contraction has already happened, and I won't assign any particular identity to the participants.
$ETH 2245.71, up 1.2% in the past 24 hours; the price is back above the average traded price ♦️
The 24-hour volume-weighted average price is about 2236.27. At 2245.71, the price is roughly 0.4% higher, showing improvement in the most recent trading levels.
After retreating from the highs, it remains above the average price, with some of the recovery still intact.
This advantage is still modest, so I see it as consolidation after a rebound. Beyond the 1.2% daily gain, the price has also held above the average traded level.
$UNI 7.035, up 5.8% in the past 24 hours; 7 is holding, but 7.24 didn't stick 🦄
After testing 7.247, the price retreated to 7.035. The room above the round-number level has narrowed considerably, and the price couldn't stay near the highs.
Still, 7 is holding. The rebound hasn't given back this entire level, and the price has yet to retreat to around 6.9.
I see this as consolidation after a sharp rise. The gain shouldn't be dismissed outright, but the move deserves a lower score for smoothness; the advance and the pullback from the highs are both evident.
During a 12-hour period that has now ended, open interest in SanDisk contracts fell by about 8.6%, while the price dropped about 4.1% over the same period.
This time, position contraction coincided with prices giving ground. A small bounce from the lows did not recover the distance lost in the earlier decline.
The decrease in open interest did not directly translate into price support; I see it as short covering near the lows. This contraction has already happened, and I won't assign any particular identity to the participants.
$ETH 2245.71, up 1.2% in the past 24 hours; the price is back above the average traded price ♦️
The 24-hour volume-weighted average price is about 2236.27. At 2245.71, the price is roughly 0.4% higher, showing improvement in the most recent trading levels.
After retreating from the highs, it remains above the average price, with some of the recovery still intact.
This advantage is still modest, so I see it as consolidation after a rebound. Beyond the 1.2% daily gain, the price has also held above the average traded level.
$UNI 7.035, up 5.8% in the past 24 hours; 7 is holding, but 7.24 didn't stick 🦄
After testing 7.247, the price retreated to 7.035. The room above the round-number level has narrowed considerably, and the price couldn't stay near the highs.
Still, 7 is holding. The rebound hasn't given back this entire level, and the price has yet to retreat to around 6.9.
I see this as consolidation after a sharp rise. The gain shouldn't be dismissed outright, but the move deserves a lower score for smoothness; the advance and the pullback from the highs are both evident.