【$API3 Signal】Overbought momentum is weakening, wait for a pullback to go long

$API3 1H RSI 72.73, 4H RSI 75.67, double-cycle overbought at high levels. The MACD histogram on the 1H timeframe continues to shrink, indicating the bullish momentum is visibly weakening.
Selling pressure is starting to accumulate on the order book, with the last 1H bearish candle's buy volume ratio only at 0.46, suggesting weak willingness for funds to support the bottom.
Chasing longs at this level is not cost-effective for profit and loss, but the negative funding rate of -0.7764% hints at a potential short squeeze; when prices fall deep, some may buy in.
Be patient and wait for the price to retrace near 0.4000 before considering action, set stop loss below 0.3252, and target first at 0.4519, then reduce positions at 0.4538.
🎯Direction: Long (place order on pullback)
⚡Entry/Order: 0.4000
🛑Stop Loss: 0.3252
🚀Target 1: 0.4519
🚀Target 2: 0.4538
🛡️Trade Management: - Execute strategy: after reaching Target 1, reduce position by 50%, and move stop loss to break-even.
If the price falls back into the entry zone, exit automatically to protect capital.
Despite the deep negative funding rate, the price remains resilient; if the retracement does not break the previous low, a short squeeze could quickly wipe out the shorts.
Currently, the risk-reward ratio uses time to gain space; wait for that volume-increasing bullish candle to confirm the direction.
Check real-time market 👇 $API3
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