$SNDK saw a massive influx of $200 million in the last hour, with buying pressure making up over 65%, but the price fell from 2150 to 2105, and open interest dropped by 0.77%—the buy orders couldn't hold the price up, showing signs of distribution at these highs.
$ZEC also experienced significant volume, with buying pressure at 1.67, pushing the price from 507 to 528 and holding steady, with a slight increase in open interest of 0.57%; funds are still accumulating. Two different volume plays, one intention: SNDK is unloading, while ZEC is scooping up. However, ZEC's RSI has hit 90, making chasing the pump risky.
What to watch next: If SNDK drops below 2000 and open interest continues to decline, that’ll confirm distribution; if it bounces back above 2000 with volume and open interest increases, the distribution phase may be over. For ZEC, if it retraces to 500 and holds without breaking, accumulation is valid; if it breaks below 500 with high volume and RSI drops, a short-term top could be forming.
$ZEC also experienced significant volume, with buying pressure at 1.67, pushing the price from 507 to 528 and holding steady, with a slight increase in open interest of 0.57%; funds are still accumulating. Two different volume plays, one intention: SNDK is unloading, while ZEC is scooping up. However, ZEC's RSI has hit 90, making chasing the pump risky.
What to watch next: If SNDK drops below 2000 and open interest continues to decline, that’ll confirm distribution; if it bounces back above 2000 with volume and open interest increases, the distribution phase may be over. For ZEC, if it retraces to 500 and holds without breaking, accumulation is valid; if it breaks below 500 with high volume and RSI drops, a short-term top could be forming.