SOON is under heavy pressure as short-term holders continue selling despite a positive funding rate of about 0.0051%. According to CoinGlass, the token fell 14% at the start of the day, while net capital outflows reached $1.82 million in the perpetual market. Spot markets also saw $697,000 in net inflows to exchanges, suggesting that traders are preparing to sell. However, the one-month liquidation heatmap shows heavy concentrations above the current price and almost none below it, indicating that sellers could run out of momentum and a rebound could occur if demand increases.
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