Seeker price has started to fall back. After a sharp rise of 200% following the launch earlier this week, SKR is now down nearly 25% in the last 24 hours. This is especially important now as the buyers who drove the rise have been replaced.
We previously showed that smart money bought when others sold their airdrops and stabilized the price. But that situation no longer applies. Smart money is now selling, exchange balances are increasing, but whales are buying quietly. Therefore, the market is being pulled in different directions and a drop of 5% may come soon.
Sharp decline caused smart money to leave.
The first sign was seen on January 24.
On the one-hour chart, Seeker lost its VWAP line. VWAP shows the average price that traders have paid, weighted by volume.
When the price stays above, buyers are in control. But if the price goes below, it indicates that sellers are taking over instead of the market resting.
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The turnaround happened almost simultaneously with how smart money acted.
Over the past day, smart money's SKR holdings decreased by 56.48%. According to blockchain data, this group sold about 8.5 million SKR in a day. It was not a calm sale. They sold quickly after the price structure broke down.
This is important because smart money often moves first. When they stop buying after VWAP is broken, it shows that there is no significant upside in the short term anymore.
This explains why Seekers' attempts at recovery have been weak, even though the price is trying to stabilize. But smart money selling is just part of the picture.
Whales buy when the price drops – a difference indicates accumulation.
While knowledgeable traders sold, whales instead bought.
From January 23 to 24, Seeker's price continued to fall, but the Money Flow Index (MFI) increased during the same period. MFI tracks buying and selling pressure with both price and volume. When the price falls but MFI rises, it shows that some players are buying despite the price decline.
This difference explains the behavior of whales.
Over the past day, whale holdings increased by 40.78%, totaling 56.49 million SKR. This means that whales bought about 16.3 million SKR during the decline.
Unlike smart money, whales do not speculate in the short term. They position themselves when the market is weak, which aligns with the MFI showing that others are buying the dip.
It clearly shows the difference in what the actors want. Smart money stopped buying after VWAP was broken. Whales started buying when the decline calmed down and buy signals appeared.
But whales buying does not automatically mean that the price will rise. Whales can absorb some of the supply, but they cannot prevent a price drop if there is still a lot of selling pressure from others. Therefore, what happens on the exchanges is important right now.
Stock inflows maintain the risk of a price drop on Seeker.
Despite whales having bought a lot, there is still high selling pressure.
Exchange balances have increased rapidly over the past day, up 10.94% to 453.67 million SKR. This means that about 44.8 million SKR were moved to exchanges during this time. The selling of smart money was part of this and retail investors taking profits certainly increased the pressure.
This change in supply is clearly visible in the volume data.
In the four-hour chart, On-Balance Volume (OBV) has dropped while the price remained high between January 21 and January 24. OBV indicates whether the volume confirms price movements. When the price stays up but OBV declines, it shows that the price increase is due to decreased demand and not strong accumulation.
Therefore, whale buying has not yet led to continued price increases. Additionally, the increased stock inflow surpasses their accumulation figures.
The technical risk is now clear. On a four-hour closing chart, $0.028 is an important level, which is a movement of 5% from the current level. A clear close below this level, along with the OBV bottom line being broken, shows that selling pressure is stronger than accumulation and opens downwards risk towards $0.0120.
To strengthen confidence, Seeker must reclaim $0.043. After that, $0.053 is the most important resistance zone where previous supply has accumulated. Without changed volume behavior, these levels will be difficult to reach.
The structure shows a simple picture. Smart capital has left the market. Whales are accumulating. Exchanges are being filled. As long as this imbalance remains, the Seeker price is vulnerable.
