【$EGLD Signal】Long | Short Squeeze Initiation Under Negative Funding Rate

$EGLD After breaking above the 4-hour EMA20 and pulling back for confirmation, the current price is consolidating above a key support level, with deep imbalance indicating accumulated buying pressure.

🎯Direction: Long

🎯Entry: 4.68 - 4.70

🛑Stop Loss: 4.55 (Rigid stop loss, breaking below previous low and EMA50 support)

🚀Target 1: 4.95

🚀Target 2: 5.20

Market Analysis: The price surged on the latest 4-hour candle with increased volume, breaking above the recent consolidation upper boundary at 4.68. Despite a +2.24% gain, the funding rate is -0.0187% and open interest remains stable, which are typical early-stage signs of a short squeeze rather than a top.

Core Logic: 1) Technical: Price remains above EMA20 (4.5936), RSI at 56.98 in healthy zone, leaving room for further upward movement. ATR at 0.1384 indicates moderate volatility. 2) Order Book: Deep imbalance of -6.30%, with buy orders significantly thicker than sell orders (Bid/Ask Ratio: 0.88), especially in the 4.68-4.695 range with dense buy orders providing strong support. 3) Market Sentiment: Buy/Sell ratio reaches 0.52 during the rally, showing dominance of buying pressure. The price retraced to the breakout level (4.68) with decreasing volume, indicating a healthy reset without signs of major distribution.

Risk Management: Stop loss set at 4.55, a confluence zone of previous low, EMA50, and ATR lower band, with a clear invalidation point. Target 1 aligns with previous high resistance; Target 2 looks toward the Fibonacci 0.382 retracement level on the daily chart, with a risk-reward ratio >2.5.

Trade here 👇 $EGLD

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #Gate广场发帖领五万美金红包