$PROVE After completing an epic volume breakout on the 4-hour level, it is currently undergoing healthy cooling above the key breakout level. The price has pulled back from a high of 0.3918 to the 0.36 area, which is a typical confirmation of a breakout pullback rather than a top reversal. The order book shows buying pressure accumulating in the range of 0.3624-0.3626, providing immediate support.
🎯 Direction: Long
🎯 Entry: 0.3600 - 0.3650
🛑 Stop Loss: 0.3450 (rigid stop loss, below the low of the previous 4-hour candle and the area of concentrated trading)
🚀 Target 1: 0.3900 (testing the previous high)
🚀 Target 2: 0.4200 (based on the 1.618 extension of the breakout structure)
Core Logic: The 4-hour candle shows a single transaction volume expanding nearly 90 times, which is a clear signal of major capital entering the market, rather than a simple short squeeze. After the price oscillated at the upper end of the breakout range (0.28-0.30) before the breakout, the pullback is controlled within the 23.6% Fibonacci retracement level, indicating a strong adjustment. Although the funding rate is negative, it is normal after a surge, indicating that the market has not yet entered a frenzied buying phase, which is beneficial for subsequent rises. The depth of the orders shows selling pressure concentrated not far above 0.3630, and once absorbed by buying pressure, the upper space opens up. The key is to hold above 0.3587 (the recent low of the 4-hour candle) to maintain the validity of the breakout.
Trade here 👇$PROVE
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🎯 Direction: Long
🎯 Entry: 0.3600 - 0.3650
🛑 Stop Loss: 0.3450 (rigid stop loss, below the low of the previous 4-hour candle and the area of concentrated trading)
🚀 Target 1: 0.3900 (testing the previous high)
🚀 Target 2: 0.4200 (based on the 1.618 extension of the breakout structure)
Core Logic: The 4-hour candle shows a single transaction volume expanding nearly 90 times, which is a clear signal of major capital entering the market, rather than a simple short squeeze. After the price oscillated at the upper end of the breakout range (0.28-0.30) before the breakout, the pullback is controlled within the 23.6% Fibonacci retracement level, indicating a strong adjustment. Although the funding rate is negative, it is normal after a surge, indicating that the market has not yet entered a frenzied buying phase, which is beneficial for subsequent rises. The depth of the orders shows selling pressure concentrated not far above 0.3630, and once absorbed by buying pressure, the upper space opens up. The key is to hold above 0.3587 (the recent low of the 4-hour candle) to maintain the validity of the breakout.
Trade here 👇$PROVE
---
Follow me: Get more real-time analysis and insights into the crypto market!
#SUI #Layer1 #Nansen
@币安广场
$ETH