$SLX Based on the current 5-minute cycle chips, open interest, and CVD indicators, 0.15959 has solidified as a stage bottom, with the chip center of gravity rising to the 0.180-0.190 range. There is heavy short-term trapped selling pressure between 0.199 and 0.202. Total open interest remains at a high level, with the open interest delta leaning bearish. Major players are still able to steadily collect funding fees paid by shorts through the persistently negative funding rate. The deep negative CVD indicates that the current rally is driven solely by short covering and retail long entries, while major players are still digesting today's unlock selling pressure and continuing to accumulate. The morning session is likely to see narrow consolidation between 0.180 and 0.194, accompanied by small downward wicks to wash out short-term floating chips. In the afternoon, volatility will further narrow to complete a second chip exchange. As long as the price does not effectively break below the key defense line at 0.176 during the day, no large-scale deposit of unlocked tokens into exchanges occurs, and CVD gradually turns positive by evening, the probability of a strong one-sided bullish move between 20:00 and 22:00 tonight remains high. If daytime selling pressure exceeds expectations, the upward window will be postponed to July 10, 14:00-16:00. In practice, avoid chasing longs in the morning session; short-term traders can take profits in batches around 0.192-0.194, set layered stop-losses, and reserve slippage to adapt to volatility during the unlock period. Meanwhile, continuously monitor the BTC market trend and on-chain token transfers to dynamically adjust expectations.