【$SNX Signal】Oversold Rebound Play: 1H Stabilization, Short Squeeze Opportunity Under Negative Funding Rates

$SNX The 1H timeframe is oscillating and stabilizing within the 0.285-0.294 range, with the price already above the 1H EMA20 (0.2940), indicating an initial sign of a trend reversal. Although the 4H timeframe remains in a downtrend, the latest candlestick closed bullish, and open interest remains stable. Under negative funding rates, the price has not made new lows, suggesting potential for a main force to defend the price or trigger a short squeeze. Currently, buy-side order depth significantly exceeds sell-side (depth imbalance of 26.29%), providing liquidity support for a rebound.

🎯Direction: Long (Long)

🎯Entry/Order: 0.291 - 0.293 (Reason: Support zone at 1H EMA20, enter after stabilization)

🛑Stop Loss: 0.284 (Reason: Break below recent consolidation low and ATR lower band)

🚀Target 1: 0.302 (Reason: Previous minor resistance on 4H and near EMA50)

🚀Target 2: 0.310 (Reason: Previous high resistance on 4H and Fibonacci 0.382 retracement level)

🛡Trade Management:

- Position Size: Light (Reason: 4H trend has not fully reversed, belongs to a left-side play)

- Execution Strategy: After reaching Target 1, reduce position by 50% and move stop loss to entry price. Hold remaining position for Target 2; if price retraces to entry area and breaks below, exit unconditionally.

Depth Logic: Since the price fell from 0.313, 4H open interest remains stable without signs of large-scale panic selling by longs. Negative funding rate (-0.0182%) persists. If the price begins to rebound, it could trigger a chain reaction of short covering (squeeze). The 1H RSI (42.3) has exited oversold territory, indicating buying momentum is building. Order book data shows a large accumulation of buy orders in the 0.285-0.290 range, forming a strong short-term support.

Trade here 👇 $SNX

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