$SNDK ‌ Guys, SNDK has been getting slammed hard these past two days! The 24-hour drop has narrowed to around 1%, but that massive cliff-like bearish engulfing candle on the daily and the 4-hour charts has people getting chills—bulls basically got beaten down with no chance to fight back.

This wave of plunge was mainly kicked off by the U.S. stocks on Thursday, which led with a 12% drop; the crypto market immediately got dragged down. Wall Street’s crew is shouting bearish calls all the way to 1000 dollars, and retail traders cut losses totaling $370 billion over two weeks.
Although the latest news says there are signs of a bottoming out and rebound in the U.S. storage sector, the bulls have been badly depleted—overhead trapped positions are sinking like a mountain!
In the short term, it’s drifting in a weak range-bound consolidation; the resistance ceiling above is at the previous high of 1496. The downside floor support is at 1300 - 1310—if it breaks, then it goes to the 1200 defense line.