【$ICP Signal】Long | 1H pullback confirmation, main force supporting the market, short squeeze imminent

$ICP The 1H timeframe has experienced a rapid rally and is now undergoing a healthy pullback, with the price stabilizing above the key EMA support. The 4H timeframe has broken through the previous consolidation range, and the trend has shifted upward. Although the current price is far from the 1H EMA20, there is strong buying depth below, and open interest remains stable, indicating that the main force has not exited. In a negative funding rate environment, there is potential for a short squeeze.

🎯Direction: Long

⚡Entry/Order: 2.520 - 2.535

🛑Stop Loss: 2.460

🚀Target 1: 2.620

🚀Target 2: 2.680

🛡️Trade Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% and move the stop loss to the entry price. Hold the remaining position to aim for Target 2. If the price strongly breaks above the previous high of 2.636, continue to hold.

Depth Logic: After the rally, the 1H candlestick around 2.514 found support, near the strong support zone of the 4H EMA50 and the 1H EMA20 resonance area. Market data shows dense buy orders in the 2.530 to 2.540 range, forming a protective barrier. Although the latest one-hour buy volume is slightly weaker, open interest remains stable. Coupled with negative funding rates, this indicates that bears are still adding positions. Once the price moves again, a short squeeze is highly likely. The RSI on the 1H chart is in a healthy zone, preparing for another upward move.

View real-time market 👇 $ICP

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