【$RAVE Signal】Long! 1H strong consolidation, building momentum to break previous high

$RAVE The 1H timeframe entered a strong sideways consolidation after yesterday's sharp rise, with price staying close above EMA20(0.2776), rejecting deep pullbacks. The 4H timeframe has broken through the downtrend line, forming a bullish engulfing pattern, signaling a trend reversal. Currently, the negative funding rate(-0.011%) combined with firm price action suggests potential for short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 0.2790 - 0.2815 (Reason: 1H EMA20 dynamic support zone, current consolidation lower boundary)

🛑Stop Loss: 0.2730 (Reason: Break below the rising point of the 4H large bullish candle at 0.2753 and ATR lower band)

🚀Target 1: 0.2955 (Reason: Previous high resistance level, also the 1H Fibonacci 0.618 extension level)

🚀Target 2: 0.3050 (Reason: 4H EMA50 resistance and 1.0 extension level)

🛡️Trade Management:

- Position suggestion: Light position (Reason: Hot Coin experiences high volatility, risk per trade should be controlled)

- Execution strategy: After reaching 0.2955, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.2815. If the price fails to hold above 0.2815 and falls back, trigger a breakeven exit.

Depth logic: Over the past 24 hours, a 16% increase, but open interest(OI) remains stable, indicating not just a short squeeze but also new funds entering the market. The 1H RSI(53) is in a healthy zone with room to rise. Market depth shows sell orders stacking above 0.2809, but buy orders are unusually thick in the 0.2806-0.2808 range, indicating strong support from major players. Coupled with the negative funding rate, once buying pressure intensifies, a short squeeze is highly likely.

View real-time market 👇 $RAVE

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