【$STX Signal】Pullback to Long! 1H retracement confirmed, main force showing clear signs of support

$STX The 1H timeframe is currently retracing to test the EMA20 (0.2609) key support, while the 4H timeframe shows a healthy correction after a volume surge and a large bullish candle. The price has fallen back from the high of 0.274, but open interest (OI) remains stable, with no signs of large-scale long liquidation, indicating main force support. Currently, the 1H RSI (57.47) is in a healthy zone, preparing for another upward move. The order book shows buy orders accumulating in the 0.260-0.261 range (depth imbalance 15.71%), with strong support below.
🎯Direction: Long (Long)
🎯Entry/Order: 0.2605 - 0.2615 (Reason: 1H EMA20 support zone + dense buy orders in the order book )
🛑Stop Loss: 0.2580 (Reason: Break below the start of the 4H bullish candle and the key psychological level 0.260 )
🚀Target 1: 0.2680 (Reason: Previous rebound high and 1H resistance )
🚀Target 2: 0.2740 (Reason: Previous high resistance level; a breakout could lead to new highs )
🛡️Trade Management:
- Position suggestion: Light position (Reason: In a retracement phase, need to confirm support validity )
- Execution strategy: After reaching Target 1, take profit on 50% of the position, and move the stop loss of the remaining position to the entry price (break-even). If the price strongly breaks through 0.274, move the stop loss up to 0.268 to seek greater gains.
Depth logic: A 4H candle with over 9% increase and high volume confirms a short-term bullish trend. The subsequent retracement shows decreasing volume, indicating a healthy correction. Stable OI suggests funds are not retreating, combined with a positive funding rate (0.01%), reflecting market sentiment leaning bullish but not overheated. Support at key moving averages on the 1H chart provides an ideal low-risk entry point. The key is to hold above 0.260; losing this level would break the short-term structure.
View real-time market 👇 $STX
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