LYN's recent oversold rebound appears impressive, but a careful analysis of the market structure reveals that this is nothing more than a short-term false rally created by retail investors taking the bait. It fundamentally cannot change the overall bearish-dominated landscape.

From the daily chart perspective, the price has plummeted from the 0.20 high all the way down to 0.08692, with a shocking decline. Although the MACD death cross has seen some convergence in the green columns, they remain firmly locked in negative territory, indicating that bears haven't left the field but are merely accumulating strength temporarily. The 1-hour chart tells an even clearer story — the volume of each rebound is declining, and after surging toward 0.10, it begins to show obvious stagnation. This is a typical weak retracement feature with obvious signs of follow-through exhaustion.

The order book structure exposes the truth most clearly. Perpetual contract holdings have actually continued to decline during the rebound process—what does this indicate? It shows that large holders' short positions consistently suppress long positions. Even with modest price rebounds, the long-short ratio maintains the bears' advantage without any let-up. More critically, whenever price attempts to push above 0.10, active sell orders immediately flood in. This is clearly large capital taking advantage of retail panic-buying to exit positions, passing chips to those catching falling knives.

What happens next? If price barely touches the 0.10-0.11 zone, it will most likely be directly crushed by bears, with virtually zero chance of breakthrough. Conversely, once the 0.08692 low is breached, price will plunge directly toward the 0.07-0.08 range. To put it plainly, this rebound is a carefully set trap by bears, offering retail investors a chance to catch a falling knife. In this situation, firmly bearish remains the most rational choice.