I took a look at the short-term trend of PLAY. Currently, the RSI on the 15-minute, 1-hour, and 4-hour charts are all in the severely overbought zone, at levels of 81, 94, and 92 respectively. Interestingly, while the MACD bars on the 1-hour candlestick chart are still expanding, the trading volume has shrunk by 93.9%, which is actually a risk signal.

Let's first discuss the current key technical levels. The price is now near the psychological level of 0.07. On the upside, there are resistance levels at 0.072 and 0.075; on the downside, support levels are at 0.068 and 0.065.

From a strategic perspective, the approach is quite clear. If the price effectively breaks through 0.072, you can consider chasing long positions towards 0.075, but stop-loss should be set at 0.070. Conversely, if the price falls below 0.068, then look for a short position targeting 0.065, with the same stop-loss at 0.070. For now, I prefer to stay on the sidelines.

The reason is simple—such a high RSI level makes chasing impossible. Although there is volume shrinking, the indicator is so extreme that continuing to chase higher is essentially gambling, with an unfavorable risk-reward ratio. It’s safer to wait for the price to give a clear signal—either a confirmed breakthrough above 0.072 or a decisive drop below 0.068—before making a move. Once a decision is made, stop-loss must be tight; don’t hold positions blindly in this kind of market.