Recently, the trend of a certain cryptocurrency has shown a clear breakdown pattern. From the data, the decline has reached -11%, with a trading volume of 177 million. This combination of high volume and downward movement usually indicates that the selling pressure is dominant.

More notably, the current open interest remains high, which poses a risk for the bulls—if the price continues to decline, it could trigger a chain reaction of long positions being closed, further strengthening the downward momentum. From the market performance, the price has already broken through a key support level, and such a high-volume breakdown is often not a false move.

**Several key technical signals:**

Entering a short position within the range of 0.00270-0.00275 is relatively reasonable, with a stop-loss set at 0.00285 (strict adherence required). The first target is 0.00250, and if the breakdown proceeds smoothly, the second target is 0.00230.

From a lower timeframe perspective, the rebound is weak, indicating that buying pressure has not fully absorbed the selling pressure. The continuation of the bears still appears strong, and the next liquidity concentration area is likely to become the next critical level. The market logic is like this—high open interest combined with falling prices creates a negative feedback loop, and the process of bulls exiting passively often becomes the process of bears taking profits.