OG's performance on the 30-minute chart is quite interesting. The current price of 11.514 has already broken below the middle band of the Bollinger Bands at 11.547 and is approaching the lower band at 11.489. From the candlestick structure, it is clearly dominated by a bearish trend.
Technical details: Although the MACD has shown a bullish crossover, the histogram is only 0.002, which is not a strong upward signal and instead looks more like a weak rebound during a downtrend. The KDJ's J value has dropped to 6.756, indicating severe oversold conditions. From a purely technical perspective, a rebound is indeed needed.
But there is a problem—trading volume has significantly decreased, far below the average level, indicating a divergence between volume and price. The OBV indicator is negative, meaning funds are flowing out, and buying pressure cannot sustain.
Overall, the trend remains bearish, but directly shorting now risks a technical rebound. A more prudent approach is to wait for the price to rebound near the middle band, confirm resistance, and then take a small short position. Take profit at 11.489 or 11.300, with a stop loss at 11.650. Once the price closes above 11.547, this bearish structure will be invalidated, and a reassessment will be necessary.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
11 Likes
Reward
11
2
Repost
Share
Comment
0/400
BankruptWorker
· 11h ago
I hate this kind of ghostly divergence between price and volume the most. Just because it's oversold on paper, I want to short, but I end up getting slapped in the face.
View OriginalReply0
GateUser-9ad11037
· 12h ago
With such poor volume, you still want a rebound? Dream on, the funds have already fled.
OG's performance on the 30-minute chart is quite interesting. The current price of 11.514 has already broken below the middle band of the Bollinger Bands at 11.547 and is approaching the lower band at 11.489. From the candlestick structure, it is clearly dominated by a bearish trend.
Technical details: Although the MACD has shown a bullish crossover, the histogram is only 0.002, which is not a strong upward signal and instead looks more like a weak rebound during a downtrend. The KDJ's J value has dropped to 6.756, indicating severe oversold conditions. From a purely technical perspective, a rebound is indeed needed.
But there is a problem—trading volume has significantly decreased, far below the average level, indicating a divergence between volume and price. The OBV indicator is negative, meaning funds are flowing out, and buying pressure cannot sustain.
Overall, the trend remains bearish, but directly shorting now risks a technical rebound. A more prudent approach is to wait for the price to rebound near the middle band, confirm resistance, and then take a small short position. Take profit at 11.489 or 11.300, with a stop loss at 11.650. Once the price closes above 11.547, this bearish structure will be invalidated, and a reassessment will be necessary.