Seeker (SKR) risks 17% drop as selling pressure and bearish leverage dominate

Beincrypto reports Seeker (SKR) has plunged nearly 70% from post-launch highs, falling from about $0.067 to trade around $0.024 as buyers retreat.

On the 4-hour chart Chaikin Money Flow (CMF) has stayed below zero since January 24 and a failed recovery on January 26 has the CMF trending lower and breaking an ascending trendline, while on the 1-hour chart price posted a marginal higher high between January 26 and 27 but the Relative Strength Index printed a lower high. Spot indicators show exchange balances rose 5.31% over the past 24 hours to 467.08 million SKR (about 23.6 million moved onto exchanges) and smart-money holdings fell about 4%, suggesting spot demand is missing.

Derivatives data on Bitget’s 30-day SKR/USDT perpetual market show roughly $3.06 million in short leverage versus about $1.49 million in long, leaving bearish positions dominant by more than 100%. The article says a rebound toward $0.030 would liquidate around $1.2 million in short positions and could trigger a short squeeze—forced buying rather than bullish conviction—but if bears are not trapped Seeker risks sliding through $0.019 and the 17% breakdown path; the outcome now depends on bearish leverage rather than spot buyers.