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OG(OGUSDT) This wave of decline has shattered multiple timeframes, and the oversold condition is indeed extreme. Looking at the 15-minute chart, the RSI is only 38, indicating weak rebound; the 1-hour RSI has dropped to 21, which is a clear sign of extreme oversold; the 4-hour chart is even more exaggerated, with RSI at only 14. But the problem is, although the indicators are extremely oversold, the selling volume is frighteningly large, which shows that the selling pressure is quite fierce.
From the MACD perspective, the 1-hour bar has just turned positive, but it is still below the zero line, so the confirmation of a rebound is moderate.
Let's review the key levels: currently oscillating around 7.09, which is a weak area. There are two resistance levels above: 7.50 is the first hurdle, and only if it breaks through can we expect to see 8.00; support below is at 6.80, and further down at 6.40.
My plan is very simple: **do not touch it now, it's too risky**. Wait for two clear signals before acting: either the price strongly breaks through 7.50 and stabilizes, then a small long position can be attempted with a target of 8.00 and a stop-loss at 7.20; or it continues to drop to 6.40, and see if it can stabilize and form a solid bottom pattern, then consider a light position at the low.
Buying near the current price is essentially betting on a rebound, but with weak rebound momentum and such large volume, the risk-reward ratio is not favorable.