【$ESP Signal】Long - 1H breakout pullback confirmation, main force clearly intends to support the market

$ESP The 1H timeframe has experienced a massive rally and is currently consolidating strongly at high levels. The price has stabilized above the 1H EMA20 (0.0777), and the 4H timeframe has broken through the previous consolidation range upper boundary, indicating a bullish trend. The key point is that, although the price has slightly pulled back from the high, open interest (OI) remains stable, and the negative funding rate suggests that bears are still present, providing fuel for a potential short squeeze. Currently, the 1H candlestick forms dense support around 0.0853, making it an excellent sniper position.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0852 - 0.0854 (Reason: The upper boundary of the dense trading zone on the 1H level, with strong buy support from the order book )

🛑Stop Loss: 0.0828 (Reason: Falling below the previous low support on the 1H timeframe and the EMA50 dynamic support )

🚀Target 1: 0.0895 (Reason: Previous high resistance level, also near the high point on February 18 )

🚀Target 2: 0.0950 (Reason: Based on the recent rally's 1.618 Fibonacci extension level )

🛡️Trade Management:

- Position size suggestion: Light position (Reason: Daily gains have exceeded 28%, with extremely high volatility, so as to prevent profit-taking pressure )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss to the entry price. If the price strongly breaks through 0.0895 and stabilizes, the remaining position target can be set at 0.0950.

Deep logic: Market logic indicates an upward trend, combined with stable open interest rather than decreasing, which looks more like main force entering to support the market or new funds pushing in, rather than purely short covering. The 1H RSI (68.81) is in the strong zone but not overbought, leaving room for further upside. The order book depth shows buy orders far exceed sell orders (depth imbalance of 3.69%), with solid support below. In a negative funding rate environment, the price does not fall but consolidates sideways, a typical sign of a short squeeze.

Check real-time quotes 👇 $ESP

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