Seeker quickly lost speed after the launch. The price reached almost 0.067 USD but has now dropped almost 70% and is around 0.024 USD. That drop removed almost all of the early enthusiasm. Although the token is still clearly above the starting price, the price movement shows that buyers are not defending the levels, but are instead stepping aside.
The important question now is not how much the price can rise. Instead, it is about whether Seeker can avoid falling even further. Right now, it no longer depends on the buyers, but on the sellers.
Momentum and flow signals indicate that selling pressure is still strong
The first warning is seen in the cash flow.
On the 4-hour chart, Chaikin Money Flow (CMF) has been below zero since January 24. CMF measures whether capital is flowing into or out of an asset using price and volume. A negative value means money is leaving, not coming in.
Seeker attempted to recover CMF on January 26, but failed. After that, CMF continued to fall, indicating that buyers are not returning with strength. Right now, it looks like CMF is breaking the rising trend line. If confirmed, it could be negative for the Seeker price.
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The short-term trend confirms this weakness. On the 1-hour chart, Seeker made a small higher peak between January 26 and 27, but RSI showed a lower peak.
Relative Strength Index (RSI) measures the strength of the trend. When the price rises, but RSI falls, it indicates that buyers are getting weaker. This negative divergence explains why the recent rallies were short-lived.
Together, the weak CMF and RSI indicate that downward pressure remains.
Spot data shows no accumulation as the price approaches risk levels
Data from the blockchain reinforces the negative picture. Over the past 24 hours, the balances of exchanges increased by 5.31%, bringing the total to 467.08 million SKR now on exchanges. This means that approximately 23.6 million SKR have been moved there.
When tokens are moved to exchanges, it often means that owners want to sell. At the same time, smart money holdings decreased by about 4%, indicating that no one is buying the dip or believes in a reversal.
Simply put, there is no demand. This is important, as Seeker is now approaching levels where buyers typically come in after a nearly 70% decline from the peaks following the launch. Normally, buyers defend this area. But they are not visible now.
Now derivative bears are determining if the Seeker price crashes
Now the situation is turning. When buyers are absent, only negative leverage can stop further declines.
A liquidation map shows where leveraged traders are forced to close their positions. Liquidations can create rapid price movements, even without real demand. Leverage means that traders borrow to take larger positions, increasing the risk of forced selling.
On Bitget's 30-day SKR/USDT perpetual market, there are about 3.06 million USD in short positions, compared to about 1.49 million USD in long positions. This means that negative positions dominate by more than 100%.
If the SKR price recovers to 0.030 USD, about 1.2 million USD in short positions may begin to be liquidated. This could create a so-called short squeeze, forcing sellers to buy back SKR and raising the price.
It is important to understand the difference. A short squeeze does not build on buying conviction – it is a forced buying reaction.
If sellers do not get stuck, Seeker could fall below 0.019 USD. This could lead to a decline of 17%. If sellers do get stuck, their liquidations could temporarily save the price. Therefore, Seeker is no longer dependent on buyers.