SKHYNIX Price Prediction: Selling pressure remains in control as price stays below key averages

What happened

SKHYNIX closed at $953.49 after a 24-hour decline of 10.07%, with trading confined to a range of $1,068.95 to $936.09. On the supplied Binance Futures data, the current price is below the 7-day SMA at $1,031.61, the 20-day SMA at $996.66, and the 50-day SMA at $1,163.94. The 24-hour trading volume was $1,557,556,095, and the daily ATR(14) was $68.32, which shows the name is still moving with wide daily swings.

What the indicators show

The momentum readings are weak but not fully washed out. RSI(14) is 38.54, which the supplied data labels as neutral zone. MACD is -30.5906, the MACD signal is also -30.5906, and the histogram is -0.0000, which the supplied data labels as bearish momentum. Stochastic %K is 22.47 and %D is 17.98, while %B is 0.3324 against Bollinger Bands with a middle band at $996.66, an upper band at $1,125.06, and a lower band at $868.26.

Key levels from the supplied data

The listed trading levels are straightforward: pivot point at $986.18, immediate resistance at $1,036.26, strong resistance at $1,119.04, immediate support at $903.40, and strong support at $853.32. With price below the pivot and below the 20-day average, the immediate question is whether buyers can reclaim the pivot area or whether price continues to test support.

Positioning and flow

The derivatives data points to long-heavy Binance positioning, but not to clean confirmation from aggressive order flow. The 8-hour funding rate is 0.0992%, which means longs are paying shorts. The Binance global long/short ratio for the 1-hour period is 6.8370, with global accounts at 87.2% long and 12.8% short, while top-trader accounts are 88.8% long and 11.2% short, with a ratio of 7.9366. At the same time, the 1-hour taker buy/sell ratio is 0.7897, with buy volume of 14,359 and sell volume of 18,183. Open interest is 393,430.37 contracts, open interest value is $309,612,209, and 24-hour OI change is -9.47%.

Conclusion

The supplied data shows a weak short-term structure, with price below the main moving averages and bearish taker flow still outweighing buy aggression. At the same time, the long-heavy Binance cohort ratios and positive funding rate mean positioning remains crowded on the long side. That leaves SKHYNIX vulnerable if support does not hold, but any recovery would first need to reclaim the pivot at $986.18 and then the 20-day average at $996.66.