The recent performance of PLAY is quite interesting. Looking at the charts from 15 minutes to 4 hours, the RSI has been fully overbought, but the trading volume has been shrinking, with a reduction of 95.6%. This divergence phenomenon should not be underestimated. On the 1-hour level, the MACD bars have also started to contract, and the risk of chasing the price has become very apparent.

From the price level perspective, it is currently stuck at the integer level of 0.0500, which is considered a psychological price level as well as a resistance level. There are two key resistances above at 0.0520 and 0.0550, while the support range below is at 0.0480 and 0.0450.

If the price can effectively break through 0.0520, along with an increase in Trading Volume, one could consider chasing the price, targeting 0.0550, with a stop loss set at 0.0505. Conversely, if it breaks below 0.0480, then it would shift to a bearish outlook, targeting 0.0450, with a stop loss at 0.0495. However, if it oscillates in the range of 0.0480 to 0.0520, my suggestion is to not rush to participate.

To be honest, the current position has me a bit conflicted. With the RSI so high, the risk of chasing the price is too great. I tend to lean towards continuing to watch and wait for either the price to pull back to around 0.0480 and stabilize, or for a clear breakout signal with increased trading volume above 0.0520 before jumping in. Being around 0.0500 is just a struggle, and the potential reward does not match the risk at all.