【$PLAY Signal】Bullish momentum exhaustion, waiting for a pullback confirmation

$PLAY 1H timeframe spikes up then pulls back, RSI soared to 75.47 before buying pressure breaks down, 4H timeframe price has pierced the upper band. The order book shows heavy orders below 0.0897, but active sell orders are beginning to emerge.

🎯Direction: Watchful (wait for a pullback to go long)

⚡Pending orders: Hidden in the 0.07555 - 0.08934 range lower boundary

🛑Stop loss: 0.07084

🚀Target 1: 0.08986

🚀Target 2: 0.09022

🛡️Trade management: - Execution strategy: After order fill, if the price rebounds to Target 1, halve the position, and move the remaining position to breakeven stop-loss, aiming for Target 2. If the price directly breaks below the entry zone lower boundary, abandon this trade.

The 4-hour MACD shows a golden cross but the histogram begins to shrink, and on the 1-hour timeframe, there is a clear divergence between volume and price, with a large surge followed by sideways consolidation with decreasing volume. Open interest remains stable, funding rates are acceptable, but short-term chasing high is riskier than the potential reward. Chasing at this position for quick gains is not cost-effective; the strong support zone is near the EMA50 at around 0.0712. Waiting for a pullback to confirm support before a second upward attack is more prudent.

Check real-time market 👇 $PLAY
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