$EGLD broke through the EMA20 after a 4-hour level pullback confirmation, and the current price is consolidating above key support, with deep imbalance indicating accumulation of buy orders.
🎯Direction: Long
🎯Entry: 4.68 - 4.70
🛑Stop Loss: 4.55 (rigid stop loss, falling below previous low and EMA50 support)
🚀Target 1: 4.95
🚀Target 2: 5.20
Market Analysis: The price surged with high volume in the latest 4-hour candlestick, breaking above the recent consolidation range at 4.68. Despite a rise of +2.24%, the funding rate is -0.0187% and OI is stable, which indicates typical early characteristics of a short squeeze rather than a top.
Core Logic: 1) Technicals: The price is stable above EMA20 (4.5936), with RSI at 56.98 in a healthy zone, leaving room for further gains. ATR 0.1384 shows moderate volatility. 2) Order Book: Deep imbalance -6.30%, with buy orders significantly thicker than sell orders (Bid/Ask Ratio: 0.88), especially in the 4.68-4.695 range where there are concentrated buy orders providing strong support. 3) Market Sentiment: The buy/sell ratio reached 0.52 during the rising candlestick, indicating dominance of buy orders. The price retraced to the previous breakout level (4.68) with declining volume, which is a healthy reset, showing no signs of distribution by major players.
Risk Control Core: The stop loss is set at 4.55, which is a resonance zone of the previous low, EMA50, and ATR lower bound, with a clear point of logical failure. Target 1 corresponds to previous high resistance, and Target 2 looks towards the daily Fibonacci 0.382 retracement level, with a risk-reward ratio >2.5.
Trade here 👇$EGLD
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