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The recent technical indicators for 2Z show a clear bearish pattern. Observing multiple time frames, both the 4-hour and 1-hour levels have shown death cross signals, and the Relative Strength Index (RSI) has fallen below 28. The short-term 15-minute line has even reached the oversold area at 13. The latest price has retraced by 2.65%, significantly exhibiting bearish characteristics.
In terms of market data, the current buy-sell order depth ratio is 0.73, indicating that selling pressure dominates. The overall long-short position ratio across the network is only 0.53, with large holders leaning towards the short side. The active buying power is weak, the funding rate remains in a positive range, and the cost of shorting is relatively manageable.
From a technical perspective, the bearish signal of multiple indicators resonating is worth paying attention to. If considering a short strategy, a take-profit target of 3%-5% can be set. However, it is important to note that a rebound may occur at any time in an oversold state, so reasonable stop-loss levels must be set, and position sizes controlled to avoid short-selling risks. During periods of significant market sentiment fluctuations, risk control is always the top priority.