The perpetual contracts of a new coin launched by a major exchange are currently showing an extremely overbought and疯狂上涨 pattern, hiding many risk signals behind it.

From a technical perspective, the price has already broken significantly above the upper Bollinger Band, the moving average divergence is at a historical high, the RSI indicator is severely overbought, trading volume has expanded dramatically, and the MACD momentum is also at a peak. What do these indicators combined indicate? Buying sentiment is approaching its limit, and upward momentum is gradually weakening.

In the short term, the market is likely to continue pushing higher, and the inertia is still in effect. But this kind of rise is often the "last frenzy" — once profit-taking begins to surge, the price could quickly fall back to support levels, and the correction could be quite fierce. Of course, there is also a low-probability event: if trading volume continues to increase and market sentiment does not subside, a short squeeze could prolong, but the risks would also be significant.

The key is to see how the medium-term develops. If the correction is relatively healthy and orderly, it could actually be beneficial for subsequent upward movements; but if the trend begins to weaken, this wave of rally might come to an end. Currently, close observation of the price and volume dynamics is necessary.