$SNDK 840.24, down 5.29% today. But the candle to watch isn't this one—it's the four-hour candle on 11-05.
It plunged all the way from 1001.39 to 808.28, dropping 19.3% in a single candle.
That candle saw 2.585 billion in volume, while the median volume of the previous 41 completed candles was only 280.8 million. That's 9.21 times higher.
In other words, of the just-over 6 billion traded throughout 11-05, a full 43% was crammed into those four hours, leaving the other 20 hours to account for the remaining 60%.
Did buyers step in? Yes. It closed at 833.17, just 25 points above its low.
Did they hold the line? Not at all.
Then on 11-06, it rebounded to 914.00 before falling back. Today it's still 8.1% below that high, and $MU continues to grind lower too.
A sustained hold above 879.41 would count as a recovery, with 914.00 in sight. If it breaks below that, keep an eye on 808.28, with 794.26 as the next reference level.
A single candlestick can change the price, but it can't change the cost basis of the positions left behind by that money.
Do you still have any orders below 800?
https://www.binance.com/zh-CN/futures/SNDKUSDT
It plunged all the way from 1001.39 to 808.28, dropping 19.3% in a single candle.
That candle saw 2.585 billion in volume, while the median volume of the previous 41 completed candles was only 280.8 million. That's 9.21 times higher.
In other words, of the just-over 6 billion traded throughout 11-05, a full 43% was crammed into those four hours, leaving the other 20 hours to account for the remaining 60%.
Did buyers step in? Yes. It closed at 833.17, just 25 points above its low.
Did they hold the line? Not at all.
Then on 11-06, it rebounded to 914.00 before falling back. Today it's still 8.1% below that high, and $MU continues to grind lower too.
A sustained hold above 879.41 would count as a recovery, with 914.00 in sight. If it breaks below that, keep an eye on 808.28, with 794.26 as the next reference level.
A single candlestick can change the price, but it can't change the cost basis of the positions left behind by that money.
Do you still have any orders below 800?
https://www.binance.com/zh-CN/futures/SNDKUSDT
