【$ICP Signal】Pullback to go long! 1H pullback confirmation, 4H trend support, clear signs of main force defending the market

$ICP The 1H timeframe is currently oscillating around the critical support level near 2.49, with the price pulling back above the 1H EMA50 (2.4147), indicating a healthy correction. The 4H timeframe has just completed a volume-driven rally, with the current candlestick closing above EMA20 (2.3719), shifting the medium-term trend from down to up. Under a negative funding rate environment (-0.0285%), open interest remains stable, and the price refuses to drop sharply. This is a typical sign of a short squeeze, with clear main force support intentions.

🎯Direction: Long (Long)

🎯Entry/Order: 2.490 - 2.495 (current price area)

🛑Stop Loss: 2.450 (below the previous 4H low of 2.479 and 1H EMA50 support)

🚀Target 1: 2.580 (previous high resistance zone)

🚀Target 2: 2.650 (below the 4H previous high of 2.706)

🛡️Trade Management:

- Position suggestion: Standard position (Reason: 1H and 4H support resonance, favorable risk-reward ratio)

- Execution strategy: When the price reaches 2.580, reduce position by 50%, and move the remaining position’s stop loss up to the entry price of 2.495. If the price strongly breaks through 2.580, target the remaining position at 2.650.

Depth logic: Market depth shows buy orders (Bids) are stacked significantly thicker than sell orders (Asks), with a depth imbalance of 6.10%, indicating strong support below. The 1H RSI (52.39) is in a neutral zone with ample room for upward movement. The key point is that in the past 24 hours, the price violently rebounded from around 2.15 to 2.7, a typical bottom reversal pattern. The current correction presents an excellent second-entry opportunity. Coupled with negative funding rates and stable open interest, the pressure for short covering is building.

View real-time market 👇 $ICP

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