【$EGLD Signal】Pullback to Long: 1H RSI Bottom Divergence, Hidden Support Near 4H Level

$EGLD The 1H timeframe is oscillating and forming a bottom in the 4.02-4.09 range. The latest 1-hour candlestick closed at 4.052, and RSI indicates weakening momentum but has not entered the oversold zone. The key point is that the price on the 1-hour chart made a new low, but the RSI did not confirm a new low, showing signs of bottom divergence, which suggests that the downward momentum is weakening. On the 4-hour level, the price has been supported by multiple candles in the 4.03-4.06 range, and open interest remains stable, not decreasing significantly due to price drops, indicating it’s not panic selling by major players but rather a shakeout by bulls. The order book shows strong buy support below 4.04, forming a support wall. The current price is far from the 1-hour and 4-hour moving averages, making direct shorting highly risky. It’s more suitable to wait for a rebound after the pullback ends.

🎯Direction: Long (Pullback to Enter)

⚡Entry/Orders: 4.003 - 4.043 range, staggered entries

🛑Stop Loss: 3.950

🚀Target 1: 4.180

🚀Target 2: 4.280

🛡️Trading Management:

- Execution Strategy: Use staggered entries, buy on dips within the suggested range. After reaching Target 1, reduce position by 50%, and move the stop loss of the remaining position to the entry price. If the price fails to break above 4.10 and falls back below the lower boundary of the entry zone, consider the strategy invalid and exit decisively.

(Depth Logic: The price is falling but open interest remains stable, combined with 1-hour RSI bottom divergence, which is a typical signal of bearish momentum exhaustion. Market logic suggests assessing whether it’s a forced liquidation of longs or major players offloading. From stable OI and buy support below, it appears more like major players defending key support around 4.03 to accumulate. Funding rates are near neutral, with no excessive long risk. The first resistance above is the 1-hour EMA20 (4.077) and around 4.123 from 4 hours ago. )

View real-time quotes 👇 $EGLD

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