【$ESP Signal】Long + 1H strong consolidation, preparing for a second upward move

$ESP The 1H timeframe has experienced a massive rally and is currently consolidating strongly at high levels. The price is digesting profit-taking within the 0.085-0.090 range. The 1H candlestick remains above the EMA20 (0.0816), indicating a healthy structure. The 4H timeframe has broken through the previous consolidation platform with increased volume, and the EMA20 (0.0783) has turned upward to form support. Negative funding rate (-0.0514%) and stable open interest suggest potential short squeeze opportunities; a pullback is an opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0865 - 0.0875 (Reason: 1H EMA20 support zone and the median of the previous hour's candlestick body )

🛑Stop loss: 0.0835 (Reason: Break below the 1H consolidation low and ATR lower band )

🚀Target 1: 0.0920 (Reason: Previous high resistance and psychological level )

🚀Target 2: 0.0960 (Reason: 1.618 Fibonacci extension based on recent gains )

🛡️Trade management:

- Position size suggestion: Light position (Reason: Daily gains are significant, volatility is extremely high )

- Execution strategy: After the price reaches 0.0920, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.0870. If the price fails to hold above 0.0900 and falls back into the entry zone, consider actively exiting.

Deep logic: 4H buy volume surged, indicating main capital involvement. Although the current 1H RSI (65.09) is not low, it remains healthy within a strong trend. Market depth shows sell orders stacking above 0.0882; a breakout will accelerate upward. The negative funding environment combined with rising prices forms a classic short squeeze structure, and short covering will provide additional momentum.

View real-time market 👇 $ESP

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