In the 12h timeframe, the Blue LSMA and Green line is already at the negative level. The Red RSI is also very low at 0.99. These could be signs that the downward pressure is overextended (short term).
However, in the 1d timeframe, there is still some room for the Blue LSMA to continue downward although the Green line is also already very low.
Short term wise, the price is already in the oversold region. However, if the drop continues, it is highly likely to bounce at the next support level around 7.1~7.3 USDT region (Green trendline in pitchfork ).