【$ICP Signal】Pullback Long + 1H Oversold Rebound Play

$ICP The 1H timeframe just completed a sharp decline, touching recent lows, with RSI(1H) entering oversold territory (35.99), indicating a technical rebound possibility. The 4H timeframe remains in a downtrend, but the current price is close to the lower boundary of the channel, and open interest (OI) remains stable without signs of panic selling, providing room for a short-term rebound.

🎯Direction: Long (Long)

🎯Entry/Order: 2.415 - 2.425 (Reason: 1H oversold zone + dense support zone + near 4H channel lower boundary)

🛑Stop Loss: 2.395 (Reason: Break below recent 1H lows and lower boundary of dense support zone)

🚀Target 1: 2.485 (Reason: 1H EMA20 resistance and previous small platform high)

🚀Target 2: 2.525 (Reason: Previous high resistance level on 4H timeframe)

🛡️Trade Management:

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

- Execution Strategy: After reaching Target 1, reduce position by 50% and move stop-loss to entry price. Hold remaining position for Target 2. If the price cannot effectively break above 2.445 (1H EMA20), consider exiting early.

Deep Logic: The latest 1H candle shows increased volume on a decline, but buy/sell ratio is only 0.35, indicating short-term exhaustion of selling pressure. Market depth shows large buy orders accumulated in the 2.41-2.42 range (depth imbalance -5.30%), forming a strong support. Negative funding rate (-0.0172%) combined with stable OI suggests shorts are paying fees, and a rebound could trigger short covering (short squeeze). This is a typical oversold rebound + potential short squeeze scenario.

Trade here 👇 $ICP

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