【$ETH Signal】1H Level Oversold Rebound, Sniping Intraday Short Covering Opportunity

$ETH After forming a long lower shadow around 1933 on the 1H chart, the price is attempting to recover the key resistance at EMA20 (1956.6). Although the 4H timeframe remains in a downtrend, open interest (OI) is stable, and the negative funding rate (-0.0024%) suggests a short squeeze risk. The 1H RSI (41.03) has rebounded from oversold territory, with buying interest accumulating around 1949, indicating short-term rebound momentum is brewing.

🎯Direction: Long (Long)

🎯Entry/Order: 1950.0 - 1955.0 (Reason: Stabilize above 1H EMA20, confirming short-term bullish reversal )

🛑Stop Loss: 1932.0 (Reason: Break below 1H previous low and key support )

🚀Target 1: 1975.0 (Reason: Resistance at the lower boundary of the previous 4H consolidation zone )

🚀Target 2: 1990.0 (Reason: 1H Fibonacci retracement at 0.618 of the downtrend )

🛡️Trade Management:

- Position Size Suggestion: Light (Reason: 4H trend remains bearish; this is a counter-trend rebound play )

- Execution Strategy: After reaching Target 1, move stop loss to entry point (break-even). For remaining positions targeting Target 2, consider partial profit-taking if price stalls around 1955-1960.

Depth Logic: Price declines but OI remains stable, indicating not major liquidation by large players, but more like passive long liquidation. The latest 1-hour candle shows buy volume ratio as high as 0.64, indicating active capital absorption. The order book depth imbalance of 5.59% favors buyers, with a buy wall exceeding 200 ETH near 1949.5, providing initial support for the rebound. If the 1H close stays above EMA20, it will trigger short covering and short-term long chasing.

View real-time market 👇 $ETH

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