【$ENSO Signal】Oversold rebound game after sharp decline, 1H level ambush

$ENSO The 1H level just experienced a waterfall-like plunge, dropping directly from 2.95 to 2.28. Currently, the RSI(1H) has entered the oversold zone (37.07), indicating a technical rebound demand. On the 4H level, the price has fallen below the EMA20, but the EMA50 (1.9558) still provides strong support below, and during the sharp decline, open interest (OI) remained stable, suggesting not a massive panic escape by bulls but more likely profit-taking or panic selling. The order book shows sell orders accumulating around 2.2984 (1643 units), but buy depth remains decent, indicating a battle between bulls and bears.

🎯 Direction: Long (wait for a pullback to enter)

🎯 Entry/Orders: 2.2600 - 2.2800, staggered entries

🛑 Stop-loss: 2.2200 (breaks below previous low 2.282, invalidating the rebound logic)

🚀 Target 1: 2.4500 (resistance near the previous small platform on the 1H level and EMA20)

🚀 Target 2: 2.6000 (EMA20 on the 4H level and the starting point of the plunge)

🛡️ Trading management:

- Position suggestion: Light position (reason: after a sharp decline, sentiment is unstable, belongs to left-side game, higher risk)

- Execution strategy: Enter in two batches within the 2.26-2.28 range. Reduce half of the position near Target 1 (2.45), and move the remaining stop-loss up to the entry price. If the price rebounds directly but cannot hold above 2.35, consider exiting early.

Deep logic: After the plunge, funding rate is as high as -0.89%, indicating potential fuel for a short squeeze. The RSI divergence on the 1H level is brewing; if the price stabilizes around 2.28 and forms a bullish engulfing pattern, it will be a clear rebound signal. Stable OI suggests main players have not exited, and this decline is more likely a healthy correction to clear leveraged longs, preparing for a subsequent rally. Watch whether the next 1H candle can close above 2.32 to confirm a bottom.

View real-time quotes 👇 $ENSO

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL ‍#我在Gate广场过新年 #比特币反弹