【$PROM Signal】Short squeeze rebound continues, 1H pullback confirmation for long entry

$PROM On the 1H timeframe, after a massive rally, the price is undergoing a healthy pullback and consolidation, supported above the EMA20 (1.5037). The 4H timeframe has broken through the previous consolidation platform, forming a bullish structure. In a negative funding rate environment (-0.1082%), the price remains firm, indicating potential for a short squeeze. Open interest remains stable, showing that funds have not exited, which is a sign of main force supporting the market.

🎯Direction: Long (Long)

🎯Entry/Order: 1.535 - 1.545 (Reason: Pullback to the 1H EMA20 support zone, also the previous breakout area with high trading volume )

🛑Stop Loss: 1.515 (Reason: Break below the 1H EMA50 and the previous 1H candle low, invalidating the bullish structure )

🚀Target 1: 1.620 (Reason: Previous high resistance and the 0.618 Fibonacci extension on the 4H timeframe )

🚀Target 2: 1.690 (Reason: Momentum after breaking the previous high at 1.689, approaching the psychological level of 1.700 )

🛡Trade Management:

- Position size suggestion: Light position (Reason: Intraday volatility has increased, ATR reaches 0.1, risk control is necessary )

- Execution strategy: After reaching 1.620, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 1.545. If the price fails to hold above 1.560 and falls back below the entry zone, exit proactively.

Deep logic: The 4H candles have closed bullish consecutively, indicating strong buying power. The 1H RSI (59.41) has retreated from overbought territory to a healthy zone, preparing for further upward movement. Market depth shows sell orders accumulating between 1.555-1.565; a breakout above this zone will accelerate the rise. In a negative funding rate environment, short positions are costly, and any upward move may trigger short covering, leading to a short squeeze. Currently, the price is at 1.549, at a critical point of bullish and bearish battle; a pullback presents an opportunity.

View real-time quotes 👇 $PROM

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