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Is $SUN about to pull another fast one on us?
Looking at the 1D chart, that rejection at 0.01969 was pretty sharp, and we've been stuck in this choppy range since then. Currently sitting at 0.01734 and it feels like the momentum is cooling off.
The order book is looking a bit heavy with almost 62% on the sell side, which usually means there's a lot of supply waiting to be absorbed before any real move up. Volume is decent at 29M, but it's not showing that aggressive buying power we saw back in mid-March.
If we lose this 0.01730 support level, we might be looking at a deeper correction toward the 0.016 zone where those previous wick lows are. On the flip side, we need a solid close above 0.018 to even think about testing the highs again.
I'm keeping my hands in my pockets for now. No point in fighting the trend while the sellers are clearly in charge of the book.
Stay sharp and watch the 0.017 level closely.
#GateSquareAprilPostingChallenge