Meta Platforms' tokenized stock is trading at $565.69, and the picture on the charts is starting to look different than it did a week ago. The selling pressure that dragged the asset down has visibly weakened, and a growing share of top traders is now betting on a bounce.
Why the Bearish Run Is Losing Steam
The tokenized stock has spent the past several sessions trading in a tight range, but the momentum behind the decline is clearly exhausting itself. Price action shows lower selling volume on each dip, a classic sign that the distribution phase may be over. What's left is a market that looks for a reason to push higher rather than another excuse to dump.
At $565.69, the asset sits just below a key psychological level. The most recent selloff carved out a series of lower highs, but those have now flattened. Short-term charts are showing the kind of sideways compression that often precedes a directional move.
Traders Lean Heavily Long
The sentiment shift is concrete. Data on top trader positions shows 78.6% are currently long the asset. That's a lopsided number, and it reflects a clear change in risk appetite. After the last pullback, many of those same traders were hedging or shorting. Now they're piling back into the long side, convinced the floor has been set.
That doesn't guarantee a rally, but it does tell you where the crowd is positioned. When that many participants are long, they are also a potential source of squeeze fuel if the price turns up.
Derivatives Signal a Move Back to $572–$580
Options and futures positioning reinforces the bullish tilt. The derivatives market is currently pricing a realistic reclaim of the $572–$580 zone. That range has acted as both support and resistance in the recent past, so a close above it would open the door for the next leg.
The $600 target is back in play. It had been shelved when the asset broke down from the mid-580s, but the current structure suggests that a push through $580 could quickly attract momentum buyers. The derivatives curve shows open interest building in the higher strikes, which is a classic setup for a run toward a round number.
None of this is a guarantee, and the market can always reverse. But the tape is speaking a different language now. The question for traders is whether the price can hold above the $570–$580 resistance zone long enough to bring that $600 level into reach. The next few sessions should answer it.
