Seeker Prices May Dip 40% Amid Retraction Phase

Seeker (SKR) witnessed a massive rally over the weekend, surging by 292% to $0.359 from its previous price of $0.091.

The altcoin's price has since faced selling pressure due to profit-taking activity, leading to a retracement phase.

Coinalyze data shows that negative Funding Rates and falling spot CVD on August 31st reflected market conviction that the rally was about to end.

The Open Interest has decreased from $42 million on Monday to $24.6 million at the time of writing, indicating a decline in market participants' enthusiasm.