【$ESP Signal】Pullback to go long! 1H pullback confirmation, negative fee rate short squeeze expectation still in effect

$ESP The 1H level is undergoing healthy retracement after a massive surge. The current price finds initial support near the 1H EMA20 (0.0804), with the 4H EMA20 (0.0751) providing strong trend support. The negative fee rate (-0.1173%) and stable open interest (OI Stable) indicate that bears are still paying high costs, and any signs of stabilization could trigger a short squeeze rebound.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0810 - 0.0815 (Reason: 1H EMA20 support zone, median of the previous 1H candlestick body )

🛑Stop Loss: 0.0785 (Reason: Break below the 4H previous low of 0.07971 and 1H EMA50 )

🚀Target 1: 0.0865 (Reason: Previous high resistance level, also the high point of today’s rally and consolidation platform )

🚀Target 2: 0.0930 (Reason: Near the historical high of 0.0937, a breakout could signal a new high )

🛡️Trade Management:

- Position suggestion: Light position (Reason: Intraday volatility is extremely high, ATR reaches 0.007 )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price. If the price strongly breaks above 0.0865 and stabilizes, consider raising the remaining target to 0.0930.

Deep logic: Market depth shows ask orders (sell orders) far exceed bid orders (buy orders), with an imbalance of -28.21%. This usually indicates a large number of stop-loss or profit-taking sell orders above. Once absorbed by buy orders, upward resistance will weaken quickly. The 1H RSI (54.3) is in a healthy zone, leaving room for upward movement. Key is whether the price can form a bullish engulfing or hammer candlestick above 0.0810 on the 1H timeframe, confirming effective support.

View real-time quotes 👇 $ESP

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