【$ETH Signal】Pullback to Long: 1H stabilizes above EMA20, open interest remains stable under negative funding rate, clear signs of main force defending the market

$ETH The 1H timeframe is holding steady above EMA20 (1961.8), with the price rebounding from a low of 1934, forming a small upward channel. The 4H timeframe is still in a corrective phase after a decline, but open interest remains stable, and the funding rate is negative, indicating that bears need to pay fees, yet the price has not further declined. This is a typical precursor to a short squeeze. The order book shows deep buy-side liquidity with significant buy orders stacked, indicating strong main force support.

🎯 Direction: Long

⚡ Entry/Order: 1962.5 - 1968.0 (Current price is near the lower boundary of the range, can enter in parts)

🛑 Stop Loss: 1945.0 (Break below 1H previous low and EMA20 support)

🚀 Target 1: 1987.0 (4H EMA50 and previous minor resistance)

🚀 Target 2: 2005.0 (Strong 4H resistance and psychological level)

🛡️ Trading Management:

- Execution Strategy: After reaching Target 1, reduce position by 50%, and move the remaining stop loss up to the entry price. If the price hits Target 2, consider taking full profit or continue to trail the stop loss to hold.

Depth Logic: The price is declining but open interest remains stable. Coupled with a negative funding rate, this is not main force distribution but more like clearing long leverage. The 1H RSI has rebounded from oversold to 47, indicating increasing momentum. The current price hugging the 1H EMA20 is a key defensive position for bulls. Once volume increases and the price stabilizes, it will quickly test resistance in the 1987-2000 range. The risk lies in overall market sentiment, but $ETH’s technical structure already shows short-term trading potential.

View real-time market 👇 $ETH

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