Current price of 0.840 is indeed somewhat shocking. The price has broken through the bear market bottom of 2022 (around $4.00) and even pierced the $1.00 psychological level, fully entering the "no man's land" discovery phase. Former believers are now all deeply trapped.
From a candlestick perspective, this asset is in an extremely dangerous breakdown decline. Although the underlying protocol itself has fundamental support from algo-stables and LSD, the chart clearly shows capital abandoning it ruthlessly. A typical liquidity-drying trend with no bottom in sight below.
**Key Price Levels**
Resistance-wise: Near-term resistance is at 2.000, the final bottom of the previous consolidation platform; once broken, it becomes an impassable ceiling. Looking higher, 4.000-5.000 are the former historical lows, now becoming super resistance levels.
Support is awkward. The psychological level of 0.800 barely counts as a solid candlestick support, but there's basically nothing below it. Since historical lows have already been broken, there's no reliable technical support level to be found. 0.500 could be the next target.
**The Trading Volume Story is Even More Hopeless**
How low is 218K in trading volume. Gradual decline on low volume—the market has completely lost interest in trading this asset. Buy support dried up long ago, with no one willing to catch the falling knife when the bottom is unknown.
**Operational Strategy**
If you hold positions, either cut losses to stop the bleed, or play dead. After dropping 98%, the significance of timely stop-loss is preserving that final glimmer of hope. Light positions can be held as lottery tickets, betting on a fundamental explosion like Frax v3 adoption suddenly taking off. For heavy positions, consider rotating into consensus-backed assets like ETH or SOL.
If you're in cash, absolutely don't catch the falling knife. Left-side bottom-fishing risks are too high. The safest approach is to wait until it can stand above 2.00 again and consolidate there for over three months before considering slow entry.
In summary, this is a "fallen prince" story. Avoid for now and wait for right-side confirmation signals before acting.
Those who catch bottoms are warriors, those who cut losses are wise men. This time I choose to be wise.
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0.8 dares to call itself support? Laughable, below that is just empty space.
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218K trading volume, looks like they're about to lock this up.
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Betting on fundamentals exploding is no better than betting on winning the lottery next week, the odds are about the same.
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Let's wait until it stabilizes at 2 before talking, buying now is just catching a falling knife.
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Former believers have all given up now, that really says it all.
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Liquidity drying up - those four words hit the hardest.
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Those with heavy positions really should consider moving out, don't wait until 0.5 to regret it.
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With this volume, even the whales don't want to play anymore.
Current price of 0.840 is indeed somewhat shocking. The price has broken through the bear market bottom of 2022 (around $4.00) and even pierced the $1.00 psychological level, fully entering the "no man's land" discovery phase. Former believers are now all deeply trapped.
From a candlestick perspective, this asset is in an extremely dangerous breakdown decline. Although the underlying protocol itself has fundamental support from algo-stables and LSD, the chart clearly shows capital abandoning it ruthlessly. A typical liquidity-drying trend with no bottom in sight below.
**Key Price Levels**
Resistance-wise: Near-term resistance is at 2.000, the final bottom of the previous consolidation platform; once broken, it becomes an impassable ceiling. Looking higher, 4.000-5.000 are the former historical lows, now becoming super resistance levels.
Support is awkward. The psychological level of 0.800 barely counts as a solid candlestick support, but there's basically nothing below it. Since historical lows have already been broken, there's no reliable technical support level to be found. 0.500 could be the next target.
**The Trading Volume Story is Even More Hopeless**
How low is 218K in trading volume. Gradual decline on low volume—the market has completely lost interest in trading this asset. Buy support dried up long ago, with no one willing to catch the falling knife when the bottom is unknown.
**Operational Strategy**
If you hold positions, either cut losses to stop the bleed, or play dead. After dropping 98%, the significance of timely stop-loss is preserving that final glimmer of hope. Light positions can be held as lottery tickets, betting on a fundamental explosion like Frax v3 adoption suddenly taking off. For heavy positions, consider rotating into consensus-backed assets like ETH or SOL.
If you're in cash, absolutely don't catch the falling knife. Left-side bottom-fishing risks are too high. The safest approach is to wait until it can stand above 2.00 again and consolidate there for over three months before considering slow entry.
In summary, this is a "fallen prince" story. Avoid for now and wait for right-side confirmation signals before acting.