According to CoinMeta, based on early monitoring of in, SNDK has retraced by 13% in the past 24 hours, with the key support level of $1616 coming into effect once again. A quick update at 13:00 yesterday noted that $1616 is a crucial peak for SNDK. Over the past 24 hours, the Binance SNDK / USDT perpetual contracts fell to as low as $1565.82 before rebounding back to around $1616, which has once again become a dividing line between bulls and bears. The focus now shifts to the transition between support and resistance: if $1616 can be firmly held, this level will regain its support function; above that, $1734 to $1767 are worth watching. If the rebound is hindered at $1616, then this former support level will turn into resistance, and below that, $1475 and the peak of $1413 should be monitored. Currently, the pressure from the top 1 bear holders of SNDK has significantly eased, but the address 0xefe4…194b still holds 17,187 SNDK short positions, valued at approximately $27.77 million, with a floating loss of $2.3498 million.