【$ETH Signal】Long! 1H breakout and pullback confirmation, main force clearly intends to support the market

$ETH After experiencing a pullback in the early session on the 1H timeframe, the price found strong support near EMA20 (2042) and quickly surged, forming a bullish engulfing pattern. On the 4H timeframe, it stabilized above EMA20 (1965), indicating an overall trend shift from weak to strong. Currently, the price is oscillating near the key psychological level of 2070, but the order book shows deep buy support, and with negative funding rates, open interest remains stable, suggesting main force support rather than short covering. This is a typical sign of a short squeeze.

🎯 Direction: Long ( Long )

🎯 Entry/Order: 2065 - 2070 ( Reason: 1H breakout pullback confirmation zone, EMA20_1H dynamic support )

🛑 Stop loss: 2040 ( Reason: Break below previous 1H support and EMA20_1H, invalidating bullish structure )

🚀 Target 1: 2100 ( Reason: Previous high resistance and psychological level )

🚀 Target 2: 2150 ( Reason: 4H previous high near 2149, 1.382 Fibonacci extension )

🛡 Trading management:

- Position suggestion: Standard position ( Reason: 1H/4H trend resonance, strong order book support )

- Execution strategy: After reaching 2100, reduce position by 50% to lock in profits, and move the remaining stop loss up to entry price 2070. If the price strongly breaks through 2100 and stabilizes, target the remaining position towards 2150.

Depth logic: The 1H RSI (65) is in a healthy bullish zone, not overbought, with room to rise. The 4H RSI (69) is approaching overbought but not divergence, and momentum remains. Most importantly, during the 7.93% price increase, open interest remains stable, and the funding rate is negative (-0.0016%), forming a classic “positive price, negative funding rate, stable OI” short squeeze formula, with high short position costs. The order book shows large buy orders accumulating around 2068-2069, creating a short-term support wall.

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