【$SNX Signal】Long! 1H breakout retest confirmed, negative funding rate short squeeze in progress

$SNX The 1H timeframe has completed a retest confirmation above EMA20 (0.409), and the current price is holding steady at 0.421. The 4H timeframe has broken above the previous consolidation range upper boundary (0.415), indicating a trend reversal to bullish. The negative funding rate is as high as -0.2352%, yet the price remains firm, open interest is stable, and there is potential for a short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 0.419 - 0.421 (Reason: 1H EMA20 support zone + previous hour's low)

🛑Stop Loss: 0.405 (Reason: Break below the support zone formed by the 4H breakout high at 0.415 and the 1H EMA50 at 0.390)

🚀Target 1: 0.436 (Reason: Previous high resistance level, also the recent 4H candlestick shadow area)

🚀Target 2: 0.450 (Reason: 1.618 Fibonacci extension level, corresponding to the recent wave)

🛡️Trade Management:

- Position size suggestion: Standard position (Reason: 1H/4H resonance breakout, clear technical structure)

- Execution strategy: After reaching Target 1 at 0.436, reduce position by 50%, and move the remaining stop loss up to the entry price of 0.421. If the price strongly breaks through 0.436 and stabilizes, hold the remaining position towards 0.450.

Deep logic: Market depth shows buy orders significantly thicker than sell orders (depth imbalance 18.97%), with large orders supporting the 0.41-0.415 range. The 1H RSI (58.5) is in a healthy bullish zone, with room to move higher. The key is whether the price can quickly break through the dense sell zone at 0.425-0.426; once broken, the upward momentum will accelerate. Price increases in a negative funding rate environment are often driven by forced short covering, sustaining momentum.

View real-time market 👇 $SNX

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