【$EGLD Signal】Hold Cash and Wait for Key Resistance Test

$EGLD Weak consolidation below EMA20, price attempts to rebound but faces strong selling pressure, overall a technical rebound within a downtrend.
🎯Direction: Hold Cash (NoPosition)
Market Analysis: Price hovers around 4.524, below EMA20 (4.5457) and EMA50 (4.6646), indicating a medium-term downtrend. The 4-hour candlestick shows insufficient rebound momentum, with weak buying strength (Buy/Sell Ratio < 0.5).
Hardcore Logic: Depth imbalance (-12.82%) and buy-sell volume ratio (0.77) clearly indicate a significant sell wall (Asks) much thicker than buy wall (Bids), with heavy selling pressure above. Open interest (OI) remains stable, funding rate slightly positive (0.01%), no short squeeze risk, but also no signs of main force entering long positions. RSI (47.91) is in a neutral to weak zone, showing no oversold or divergence signals.
Core Strategy: Currently, the price is below key resistance zones (EMA20 and the 4.55-4.60 previous high area), and the order book structure is bearish. Long positions lack technical support and capital inflow confirmation; short positions are unfavorable due to the price being at a short-term rebound high, with poor risk-reward ratio and no overheated funding rate or declining OI signals.
Risk Control Perspective: The best strategy is to stay in cash and observe, waiting for clear resistance signals at key levels (4.55-4.60), such as long upper shadows or declining OI, or a successful volume breakout above EMA20 with stabilization before making decisions. Currently, this is a low-probability zone; forcing trades is equivalent to giving away money.
Trade here 👇 $EGLD
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