OG's recent trend is quite interesting. Multiple timeframes are showing severe oversold conditions, especially the 4-hour chart RSI at only 14.7, entering the absolute oversold zone. But caution is needed here—trading volume has suddenly surged by 642%, and such abnormal volume spikes often hint at something.

Looking at the details: the 15-minute RSI is at 51, indicating short-term stabilization; the 1-hour RSI has dropped to 22, and although the MACD histogram is starting to turn positive, overall it remains below the zero line, which is a typical oversold rebound signal. The question is, how far can this rebound go?

Key price levels to keep in mind: currently stuck at the weak equilibrium level of 7.24. Resistance above is at 7.50 and 7.80, while support below is at 7.00 and 6.50.

Honestly, the current trading strategy can be summarized in four words—wait and see. If it breaks through 7.50, consider a light long position targeting 7.80, with a stop-loss at 7.30. But if it falls below 7.00, don’t bottom fish; the downside space could open up further.

My personal stance is to stay on the sidelines. A volume spike after a sharp decline is usually not a signal to buy the dip immediately. A safer approach is to wait until the price stabilizes above 7.5 or to consider going long after a second bottom that doesn’t break below 7.0. Acting rashly now is like catching a flying knife.