【$ENJ Signal】Short squeeze in progress, pullback is an opportunity

$ENJ 1H level RSI surges to 93.8, price breaks through the 4H Bollinger upper band, initial signs of a buy-side gap. However, the negative funding rate of -1.6% coexists with stable open interest, a typical fuel for a short squeeze. The 4H MACD histogram is still expanding, indicating bullish momentum has not yet exhausted.

🎯Direction: Pullback for long entries

⚡Entry/Order: 0.02066 - 0.02119

🛑Stop Loss: 0.02040

🚀Target 1: 0.02437

🚀Target 2: 0.02595

🛡️Trade Management:
- Execution Strategy: Reduce 50% of position after reaching Target 1, and move stop loss to break-even. If price falls back into the entry zone, exit automatically to protect capital.

Order book depth shows buy orders significantly outweigh sell orders, with a bid/ask ratio of 1.46, revealing capital support intentions. The past 4 hours saw a sharp increase in volume, but open interest did not surge with the price, indicating that bears have not surrendered on a large scale, and the short squeeze scenario may still be in the middle. In this environment, chasing the high is very risky, but a pullback to around the 1H EMA20 makes the risk-reward ratio instantly attractive.

View real-time market 👇 $ENJ
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