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Looking at $TA's technicals, I'm a bit conflicted now.
From the RSI indicator, the 1-hour has already surged to 80.5, and the 4-hour is also at 79.7, indicating a serious overbought condition. But the problem is—trading volume has shrunk to an absurd level, with a drop of 96.8%, which feels a bit fake. With such weak volume, chasing the high could easily lead to traps.
Let's also look at the cycle performance: the 15-minute RSI is still moderate (60), but the overbought signals on the 1-hour and 4-hour are already quite obvious. The structure still looks strong, but a wave of correction is urgently needed to repair.
Key price levels to remember:
Currently at the psychological level of 0.03. Resistance above is at 0.0305 and 0.0312, support below is at 0.0292 and 0.028.
My approach is this—if we can effectively break through 0.0305, I will try a small position to see if it can rise to 0.0312, but stop-loss must be strictly placed at 0.0299. Conversely, if it falls below 0.0292, switch immediately to a bearish view, targeting 0.028, with a stop-loss at 0.0298.
The current price position? Watching for now. Wait until the signals are clearer before acting. After all, with RSI so high and volume so weak, the risk of chasing the high is quite significant. Better to wait for a clear directional signal—either a valid breakout or a decisive pullback—then look for a more solid opportunity.