$RONIN recently experienced a sharp 17% decline, accompanied by a significant increase in trading volume. From a price action perspective, there was no obvious rebound or recovery after the drop; instead, it fell into a passive sideways consolidation at low levels. This phenomenon usually indicates that the bears still hold dominance.

The market characteristics are quite evident—bulls' willingness to absorb sells is very weak. You will see that any small rebound encounters resistance, with sell orders continuously appearing. This is not a sign of bottom accumulation but rather a consolidation phase during a downtrend. In other words, there is still room for further decline.

From an operational standpoint, if you prefer to short, the key entry zone is between 0.166 and 0.170. This area represents the resistance level during rebounds and is a dense supply zone. Set your stop-loss above 0.176, which is a critical line you must defend.

The downward targets are set at two levels: the first target at 0.155, which is a recent support level; the second at 0.145, representing a deeper technical support. As long as the price remains below 0.176, the downward path remains unobstructed. The key is to confirm the authenticity of this decline—volume and the lack of effective rebounds have already provided the answer.