$SNDK current price 1689.74 Evening market analysis ⚠️ Market review only, does not constitute investment advice 1. Core market data Current price 1689.74, intraday increase of 2.64%, 1-hour level rebound approaching previous high resistance; Key levels: resistance at 1697.19, support at 1687.09, price stands above EMA5/EMA10 moving averages, short-term bullish retracement; 24-hour range 1565.89-1724.16, after a previous sharp drop, a repair rebound has started, volume has increased, but this is an emotional recovery after the decline, not a trend reversal. 2. Core logic for short selling remains unchanged 1. This round of rebound is a self-rescue by long positions trapped at high levels + short-term capital speculation, the previous high at 1821 was a leveraged capital impulse without long-term fundamental support, the basis for the rise is fragile; 2. High US Treasury yields suppress the technology growth sector, the storage industry still faces overcapacity expectations in 2027, the price increase cycle logic is gradually weakening; 3. Tokens and US stocks have premium divergence, high valuation bubbles have not been digested, huge gains within the year have overdrawn future expectations, profit-taking selling pressure risk remains; 4. Contract market repeatedly sweeps losses and shakes out positions, after a surge it is very easy for longs to take profits and flee again, risk of pullback is very high. 3. Evening subsequent trend forecast Strong resistance near 1697 is difficult to break effectively, this is a key defensive point for shorts, once blocked it will return to a downward trend; Even if there is a brief surge, it is difficult to replicate the previous 1821 rally, after the rebound ends it will fall again