【$XNY Signal】Short covering pullback, long positions lurking

$XNY 1H timeframe surges and pulls back, price repeatedly tests near the upper Bollinger band. 4H MACD shows a bullish crossover, but 1H histogram begins to shrink, indicating waning bullish momentum. Market depth shows strong buy orders below 0.00436, with clear intent to support, but sell pressure around 0.00438 is also concentrated.

Price retracing below 0.00435 can be bought in batches, which is the upper boundary of the suggested entry zone.

🛑Stop loss must be placed at 0.00368, this is the strict rule given by risk management.

🚀First target is 0.00438, close to the current market pressure zone.

🚀Second target is 0.00440, after breaking through, testing the previous high is possible.

🛡️Trade management: - Execution strategy: After the price reaches 0.00438, halve the position and move the remaining stop loss up to the entry price. If the price cannot hold above 0.00435 and turns downward, do not wait for the stop loss, exit proactively.

Current funding rate is 0.056%, not extreme, but open interest remains stable around 9.8 billion, with no significant outflows, indicating bulls are still holding. 1-hour RSI has fallen from overbought territory to 68, offering better entry odds. Under this structure, chasing the high directly is risky; patience for the price to retest key support levels offers a more favorable risk-reward ratio. Market depth remains the most solid logic at present.

View real-time quotes 👇 $XNY
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