CLO recently broke out of four consecutive daily bullish candles, with a significant increase, but from a technical perspective, it has entered a seriously overbought zone. Some traders are attempting to short at the 0.56 level, aiming to test the downward momentum.

The pattern of this coin is roughly as follows — whenever retail investors think the trend is just beginning, the high point has actually already been formed. The subsequent resistance levels are expected to be around 0.52 and 0.48. If these two key support levels fail to hold effectively, there is even a possibility of breaking through 0.45.

In the short term, close attention should be paid to the daily volume performance and whether effective support can be found at the above price levels. For traders participating, risk management and stop-loss settings are particularly crucial.