The DUSK contract's recent movement is essentially a tug-of-war between bulls and bears around the $0.32 level. Since early morning, the price has been oscillating at this level for over 12 hours. This dull market atmosphere feels unusual—experienced traders know that the calm before a storm often precedes chaos.

From a technical perspective, the chart looks a mess. On the 4-hour chart, the Bollinger Bands have contracted to the point where the upper and lower bands are almost touching, indicating a clear decrease in volatility, and a decision on the next direction is imminent. The MACD's fast and slow lines are stuck below the zero line, with the red energy bars so weak they are barely visible, suggesting that the current battle between bulls and bears is fragile and indecisive. However, this balance is easily broken—any sizable order could completely shift the situation.

What’s more striking is the divergence between volume and price. During the last dip to $0.315, trading volume spiked, but when the price rebounded to $0.328, volume actually decreased. This pattern of "dump volume during declines, but no follow-through during rallies" usually indicates a lack of market strength. Imagine someone gasping for breath while climbing but walking briskly downhill—that’s clearly abnormal.

On the order book, there are a bunch of sell orders above $0.33, acting like a heavy ceiling that keeps pushing the price back down each time it approaches. Support is seen around $0.31, but how strong this support really is remains uncertain. Overall, although the bears haven't managed a true breakout, the bulls’ rebound efforts are weak. If the price cannot effectively break above $0.33 in the near future, it may continue to grind within this range.