【$ENJ Signal】Short squeeze pullback, sniper for a second surge

$ENJ 1H level RSI skyrocketed to 79.87, price tightly hugging the Bollinger upper band at 0.0909, buying pressure extremely crowded. 4H level MACD histogram still expanding, but price has moved far from the EMA20. Market depth shows buy orders 25% more than sell orders, capital support is obvious, but short-term overheating.

🎯Direction: Pullback to go long

⚡Entry/Order: Within the 0.05651 - 0.09036 range, focus on the 0.0700-0.0720 zone, waiting for price to retest the 1H EMA20 support.

🛑Stop loss: 0.04219

🚀Target 1: 0.09082

🚀Target 2: 0.09118

🛡️Trade management:
- Execution strategy: After reaching target 1, reduce half of the position, move the remaining stop loss up to the entry price. If the price cannot hold above 0.0900, consider exiting all positions.

Negative funding rate of -0.0386% indicates high short position costs, fueling short squeeze potential. 1-hour volume shrank after spike, indicating healthy turnover. Current risk-reward ratio is acceptable, but beware of rapid pullback after RSI reaches high levels and becomes dull. Such a deep correction after an initial rapid rise is often the best second entry point within the day.

Check real-time market 👇 $ENJ
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