Bitcoin
Seeker Token Pulls Back After Multi-Month High as Derivatives Activity Cools
Seeker has entered a retracement phase following a 292% rally, amid profit-taking and broader crypto market weakness.
Seeker (SKR) has entered a sharp retracement after surging 292% from $0.091 to $0.359 last weekend, reaching its highest level since February. The decline followed a short squeeze, after which traders began taking profits.
Derivatives data indicated a shift in market sentiment, with negative funding rates, falling spot cumulative volume delta, and a drop in open interest from $42 million on Monday to $24.6 million. On the hourly chart, the Relative Strength Index and On-Balance Volume reflected ongoing selling pressure as the $0.024 level transitioned from support to resistance.
The pullback occurred alongside a 1.88% dip in Bitcoin from $78,000 to $76,600. Analysis highlights a potential Fibonacci support band between $0.0125 and $0.0175 where buyers may re-enter, though further weakness in Bitcoin could test the broader structure.
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