【$SPK Signal】Waiting for a callback, short squeeze opportunity under negative funding rate

$SPK 1H RSI skyrocketed to 74.83, and the 4-hour RSI even surged to 89.79, indicating severe overbought buying momentum. The 4H Bollinger Band upper band was directly broken through, with the price standing at 0.0495, but the MACD divergence is extremely large, and the histogram is beginning to flatten. Market depth shows sell orders stacking up, and the funding rate of -1.0851% is a clear short squeeze signal, with short positions being squeezed out at high costs.

After a rapid price surge, a healthy correction is needed to digest the overbought pressure; currently, the risk of chasing the high is very high.

🎯Direction: Wait and see (wait for a correction to go long)

⚡Entry/Order: Place a long order around 0.03186

🛑Stop loss: 0.02716

🚀Target 1: 0.04952

🚀Target 2: 0.04972

🛡️Trade management: - Execute strategy: After the order is filled, if the price directly surges to reach Target 1, reduce the position by half and move the stop loss to the breakeven point. If the price fails to rebound as expected and falls back into the entry zone, abandon this trade.

In a negative funding rate environment, the price remains unusually resilient, which usually indicates ample short fuel. A proper correction is more likely to trigger a secondary rally. The 1-hour EMA50 at 0.0333 forms a dynamic support, coinciding with the lower boundary of the suggested entry zone, increasing the reliability of this area. The current risk-reward ratio is not ideal; patience is needed until the market provides a better price.

Check real-time market 👇 $SPK
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