Current price of 0.840 is indeed shocking. The price has broken through the bear market bottom from 2022 (around $4.00), and even pierced the psychological barrier of $1.00, completely entering a "no man's land" discovery phase. Former believers are now all deeply trapped in losses.

From a technical chart perspective, this asset is in an extremely dangerous breakdown decline. Although the underlying protocol itself has fundamental support from algorithmic stablecoins and LSD, the charts clearly show that capital is ruthlessly abandoning it. A typical liquidity exhaustion pattern with no bottom in sight below.

**Key support and resistance levels**

On the resistance side: short-term resistance is at 2.000, which was the final bottom of the previous consolidation platform. After breaking through, it became an impassable ceiling. Looking higher, 4.000-5.000 were former historical lows, now become super resistance.

Support is awkward. The psychological level of 0.800 barely counts as solid K-line support, but there's basically nothing below. Since historical lows have already been broken, technically there's no reliable support level. 0.500 could be the next target.

**The story of trading volume is more desperate**

How low is 218K trading volume? A slow decline on low volume—the market has completely lost interest in this asset. Buying pressure dried up long ago, and no one is willing to catch the falling knife not knowing where the bottom is.

**Operational strategies**

If you hold a position, either cut losses to stop the bleeding or play dead. After a 98% decline, the point of timely stop-loss is to preserve one last glimmer of hope. If your position size is small, treat it as a lottery ticket and gamble on potential fundamental explosions, such as Frax v3 adoption suddenly taking off. If your position is large, consider rotating into consensus projects like ETH or SOL.

If you're in cash, don't catch falling knives at all costs. Left-side bottom fishing carries too much risk. The safest method is to wait until it can reclaim 2.00 and consolidate there for three months or more before considering slow entry.

In summary, this is a "fallen prince" story. Avoid for now and wait for right-side confirmation signals before making a move.