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Looking at TRUTH's recent performance, the RSI across multiple cycles from 15 minutes to 4 hours is in the overbought zone, which is indeed a warning signal from a technical perspective. However, interestingly, the 1-hour MACD histogram is still expanding, and this divergence makes the judgment a bit more complicated.
The most troublesome aspect is the trading volume, which has shrunk by 98.7%. With such a trading volume, chasing higher risks is indeed quite risky.
Let's look at some key price levels—currently stuck at the psychological barrier of 0.0100. The resistance levels above are at 0.0105 and 0.0112, while the support levels below are at 0.0096 and 0.0090.
If it truly breaks through 0.0105, then considering a long position with a target of 0.0112 and a stop-loss at 0.0100 could be an option. Conversely, if it falls below 0.0096, switching to a short position would be a more reasonable choice, with a target of 0.0090 and a stop-loss set at 0.0101.
But for now? I lean towards observing first. Especially in situations where the RSI is high across the board and volume is extremely contracted, the cost-effectiveness of chasing higher is quite low. Sometimes, the best trading decision is not to trade, but to wait for clearer signals. Better to miss a move than to blindly take a wrong position in a high-risk area.