SNX 30m – Pressure Building at Support
SNX is showing early exhaustion after a strong move up.
Price is forming lower highs while volume fades — a typical distribution setup.
From the system view, price < SMA < MLR, suggesting a possible downtrend forming, which would be confirmed once price closes under the BB Center.
RSI shows a bearish divergence, and MACD turning red confirms momentum is fading.
Funding is still positive and OI high — meaning too many longs are still stuck, and if support breaks, they’ll be the ones fueling the drop.
If the 2.30–2.25$ zone fails, next liquidity sits near 2.20–2.15$.
Until funding cools off and OI drops, short setups stay in control.
Bias:
Neutral–bearish — structure losing strength while leverage builds up.
Always take profits and manage risk.
Interaction is welcome.
SNX is showing early exhaustion after a strong move up.
Price is forming lower highs while volume fades — a typical distribution setup.
From the system view, price < SMA < MLR, suggesting a possible downtrend forming, which would be confirmed once price closes under the BB Center.
RSI shows a bearish divergence, and MACD turning red confirms momentum is fading.
Funding is still positive and OI high — meaning too many longs are still stuck, and if support breaks, they’ll be the ones fueling the drop.
If the 2.30–2.25$ zone fails, next liquidity sits near 2.20–2.15$.
Until funding cools off and OI drops, short setups stay in control.
Bias:
Neutral–bearish — structure losing strength while leverage builds up.
Always take profits and manage risk.
Interaction is welcome.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.