$$PRL 0.1838 down 21.65% in a day—do you think the longs will still hold at 0.1790? The brothers who went up to 0.2429 last night are probably staring at the ceiling now. This dump had sell volume of $17M, and the shorts directly smashed through the trend line—on the 15-minute chart, three consecutive full-bodied bearish candles ran along the lower Bollinger Band track, with not even a decent rebound. KDJ has already been stuck in a low-level consolidation and dead cross, but RSI plunged to 18.7 and is still accelerating—this isn’t oversold, it’s a liquidity stampede.

Key signals: 0.1790, the 24h low, is the last lifeline. If it breaks, the next area below at 0.1650 is a weekly-level prior dense-volume zone, where there’s support from the breakout start point in November last year. If it bounces, the first resistance is 0.1950 (hourly chart MA20 overhead), and the second resistance is 0.2080 (the low from 4 hours ago turned into resistance). MACD’s fast and slow lines are still below the 0 axis and have started to open up, while the histogram is still expanding—showing the short-side momentum hasn’t fully released.

My take: there’s currently no bottom divergence signal—don’t catch a falling knife. If you’re a left-side gambler, test a long position with small size at 0.1790, set your stop-loss at 0.1760 (if it drops below, admit defeat), and target 0.1950. If you’re a cautious type, wait for a break below 0.1790 and then short after a pullback confirmation; stop-loss at 0.1850, target 0.1650. Keep position size within 5% of total capital—during a one-way market like this, one 5-minute K-line can liquidate you.

Lastly, my personal opinion: PRL’s drop this time has nothing to do with the broader market—is it the project unlocking and selling pressure, or big holders liquidating? Until on-chain data comes out, don’t believe any bottom-fishing fairy tales. I’ve been watching the K-line in the square for three years—after a crash like this, at least two days of sideways digestion are needed. If you want to get in, wait until the 4-hour chart forms a bottom fractal structure. Remember: trend is your friend—don’t fight the shorts.