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What is the situation with SQD/USDT now? Multiple time frames are showing overbought signals.
The data speaks for itself—15-minute RSI is at 81.6, and the 1-hour is even more outrageous at 92.8, indicating extreme overbought conditions. The 4-hour also maintains a strong level at 81.6. However, there's a detail worth noting: the MACD histogram on the 1-hour is still expanding upwards, yet the trading volume has shrunk to just 5%. This kind of volume exhaustion combined with extreme overbought conditions poses significant risks.
The price is currently stuck around the psychological level of 0.0500. The resistance above is at 0.0520 and 0.0550, while the support below is in the range of 0.0480 to 0.0450.
How to operate? Two options: either wait for it to drop back to 0.0480 and stabilize before trying to go long, or wait for a breakout above 0.0520 and then chase it in. At 0.0500, I choose to observe and not chase the highs. Once it breaks, immediately stop loss; protecting the principal is the most important thing.