Definitely a lot of (under)water stuff going on here. I felt a bit overwhelmed by the constant water sound effects, which kinda drowned (pun intended) the melody a bit. :-D The vibe is perfectly moody and eerie tho. Nice work, keep it up! ^^

I really like the introduction part and how you play with the pan! Towards to middle it gets a bit crowded to hear all the instruments, maybe you can arrange it with frequency meter, dunno. I like the mysterious vibe of the song :>

I really like all the different elements here (the main synth and the water sample interact nicely), but I'm not a big fan of the structure of the song. After the intro (quite like that synth you were using), we get a loop of the same melodic phrase for the rest of the track transposed up and down with the same (quite loud and bright) water sample looping as well. I would've just liked a bit more space between phrases to give the track some time to breathe. Maybe you could try slowing down the harmonic changes in general (right now the harmony changes at least every measure) or adding a bit of rhythmic variety to the synth line. The moments where you descend down quickly in sequence are quite nice/playful so maybe slowing down the movement in other sections could also help emphasize that when it happens.

The vibe you set up is super nice and I think a few tweaks here and there could really elevate the track :)