$JUP continues to decline below EMA20, testing the previous low support area. The market shows a resistance-free decline, but deep imbalance indicates accumulation of buying pressure below, with bearish momentum fading.
🎯 Direction: Flat
The price has broken below EMA20 (0.1565) and continues to be under pressure, with consecutive bearish candles on the 4H level. However, the RSI (31.17) has entered the oversold region, and the order book depth shows that the buying pressure (Bids) is significantly greater than the selling pressure (Asks), with an imbalance rate of 18.39%, indicating a large potential buying support in the 0.1440-0.1450 area.
Current open interest (OI) is stable, and the funding rate is negative (-0.0064%), which rules out the possibility of large-scale selling by the major bulls, resembling an inertia decline dominated by bears. The price is approaching the liquidity pool formed near the previous daily low (around 0.1444), which is a key position in the battle between bulls and bears.
In terms of strategy, avoid shorting in the deep support area. Wait for two signals: 1. A clear 4H bullish engulfing or Pin Bar in the 0.1440-0.1450 area, accompanied by a rebound in buying pressure ratio, may allow for a light long position on the left side. 2. If the price breaks down below 0.1440 with an increase in OI, the decline will continue, and one should remain flat and observe. The core of risk management is to avoid being squeezed when shorting in the deep buying area; the current risk-reward ratio is unclear, and staying flat is the best option.
Trade here 👇$JUP
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