$SLX After the monthly SLX long-term bearish structure broke down from a high level, neither volume nor MACD shows any stabilization signals; in the order book, only small buy orders from retail traders are providing limited support. The current available spot margin shorting and borrowing quota is depleted, only constraining retail traders. Market makers’ own spot token holdings allow them to freely control the market and dump. Positive sentiment and news catalysts may trigger a short-term short squeeze and a minor rebound, but heavy sell walls from trapped holders above and ongoing outflows of major capital will cap the rebound’s height. A full accumulation cycle of at least 15 days will be needed before sustained swing uptrends can appear; for now, there is only a short-term speculative opportunity.