【$SONIC Signal】Bullish, Short Squeeze Market Initiation, Deep Imbalance Support

$SONIC After strong consolidation following a volume breakout above EMA20 on the 4H timeframe, price action indicates a healthy reset in a short squeeze market.

🎯Direction: Long

🎯Entry: 0.0465 - 0.0470

🛑Stop Loss: 0.0448 (Breaking below previous low and EMA20 support, rigid stop loss)

🚀Target 1: 0.0505

🚀Target 2: 0.0540

Hardcore Logic: The current market is a typical short squeeze structure. Funding rate at -0.5656% is extremely negative, but open interest remains stable, and the price has surged by 21%, which is a clear signal of forced short covering.

4H candlestick shows persistent absorption of buy orders in the 0.044-0.045 range, with healthy volume and price action. Order book depth imbalance reaches as high as 17.93%, with buy orders far exceeding sell orders, indicating strong support below.

RSI(68) is high, but in a short squeeze market, it’s not a reason to short. Price has stabilized above EMA20(0.0421), and the trend structure remains intact. The key entry zone is at the first pullback after breakout and the deep buy order cluster.

Trade here 👇 $SONIC

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