【$ETH Signal】Pullback to go long! 1H RSI oversold, key support zone lurking on 4H

$ETH The 1H timeframe is oscillating around a critical support area, RSI has entered oversold territory, indicating short-term downward momentum is weakening. The 4H price has fallen to the lower end of the recent consolidation range, and the last 4-hour candlestick closed with a long lower shadow, suggesting buying interest is starting to emerge below. Market depth data shows sell orders are stacked above the current price, but buy orders around 1948 are substantial, forming a short-term support. Open interest remains stable and has not decreased significantly with the price drop, indicating this is not a massive long liquidation but more like a shakeout by the main players. Combined with negative funding rates, there is a potential rebound opportunity from short covering.

🎯Direction: Long

⚡Entry/Order: 1929 - 1948

🛑Stop Loss: 1918

🚀Target 1: 1980

🚀Target 2: 2010

🛡️Trade Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% and move stop loss to entry price. Hold the remaining position for Target 2. If the price retraces into the entry zone and breaks below the moving stop loss, exit all positions.

Depth Logic: Currently, the price is far from the 20 EMA on both the 1H and 4H charts, indicating a technical rebound is needed. The 1H RSI is below 40, in oversold territory, and the price is testing previous support lows. The 4H chart shows multiple rebounds in the 1920-1950 zone, which is a key battleground for bulls and bears. In a negative funding rate environment, bears need to pay fees, and if the price cannot effectively break below the strong support at 1920, a rapid rebound triggered by short covering is highly likely. The core strategy is to set long positions near key support zones to capture the rebound.

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