【$ESP Signal】Long + Confirmation of Pullback After Violent Surge on 1H Level

$ESP The 1H level just experienced a legendary volume surge, with a single 4H candlestick increasing over 27%, breaking through all recent resistance levels. Currently, the 1H RSI(83) is severely overbought, but the 4H level has just broken above the EMA20 resistance, confirming a trend reversal. Open interest remains stable, and the negative funding rate suggests that bears are still resisting. The price is holding firm, indicating a typical rebound structure after short squeeze and accumulation.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0745 - 0.0750 (Reason: Rebound to the 1H EMA20 support and the previous wave's 0.382 Fibonacci retracement level )

🛑Stop Loss: 0.0720 (Reason: Break below the 1H EMA50 and the previous 1H candlestick low, confirming a deep correction )

🚀Target 1: 0.0800 (Reason: Psychological resistance at the previous high and round number )

🚀Target 2: 0.0850 (Reason: 1.618 Fibonacci extension based on the height of the surge segment )

🛡️Trade Management:

- Position Size: Light (Reason: Extremely high volatility, RSI overbought, caution against sharp shakeouts )

- Execution Strategy: After reaching 0.0800, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.0750. If the price cannot hold above 0.0750 and falls below again, exit all positions.

Deep Logic: Over the past 4 hours, open interest(OI) has remained stable, while the price surged 27%. This is a typical result of short squeeze combined with main force pushing. Market depth shows selling pressure concentrated above 0.0762, but buy orders below 0.0750 are stacked heavily, forming support. Although the 1H level is overbought, the 4H RSI(69.97) still has room to rise, and trend momentum has not exhausted. The negative funding rate(-0.0646%) continues to fuel the short squeeze.

View real-time market 👇 $ESP

---

Follow me: Get more real-time analysis and insights into the crypto market! $BTC $ETH $SOL