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A 90% increase in a week, from 0.06 to 0.12. Looking at this trend, it's hard not to feel a bit nervous. The daily RSI has surged to 82, which is already clearly overbought. According to conventional technical analysis, chasing the high at this point carries significant risk, and waiting for a pullback is indeed more prudent.
The problem is, the crypto market loves to mess with people this way. Overbought conditions can become even more overbought, which is quite normal in the crypto space. The 4-hour RSI is still at 71, the MACD golden cross is still expanding, and the ADX trend strength is at 60—indicating that the upward momentum is still quite strong. If you stubbornly wait for indicators to signal a pullback, you might miss the main upward wave that follows. Think back to the 2021 rally, when many coins' RSI stayed above 90 for several days; the pullback was actually a false move.
On the technical support side, the range of 0.107-0.11 is key. The Bollinger Bands' lower band and moving averages are concentrated there, and the heatmap also shows long positions gathering. If the price tests and stabilizes at this level, it might be worth considering a small position, with a stop-loss set below 0.10. If it breaks down, exit decisively. On the upside, resistance is at 0.126-0.138. If broken, a move toward 0.15 is not out of the question.
Open interest has actually decreased by 20%, and the funding rate remains negative, indicating that market sentiment hasn't reached the level of crazy FOMO yet. It seems more like the whales are controlling the market and shaking out weak-handed retail investors through volatility. As long as the fundamentals remain intact, such adjustments often present good opportunities to add positions.
From a fundamental perspective, the mainnet launch of EVM, exchange integrations, and the RWA narrative could all serve as catalysts. Once these are realized, a market cap increase from the current 57 million to 100-200 million USD is plausible, which could push the coin price to 0.2-0.4. Of course, this is a more optimistic estimate; the actual trend will depend on the overall market sentiment and news flow.
My plan is to start accumulating if the price drops back to around 0.11, with a strict position limit below 10%. No chasing highs or holding a full position—just maintaining a certain level of participation. Small-cap coins can rise very quickly once they start moving, and missing out entirely would be quite unfortunate.