【$EGLD Signal】 Stand Aside, Waiting for Downward Momentum to Exhaust

$EGLD After a continuous decline, the market enters a weak consolidation phase, with the 4H timeframe showing a downward channel dominated by selling pressure.

🎯 Direction: Stand Aside

Price declines are accompanied by stable open interest, indicating not a short squeeze but active selling pressure. The 4H candlestick buy/sell ratio remains below 0.5, and the Taker Volume is negative, suggesting large sell orders dominate. Currently, the price is fluctuating narrowly between 4.63-4.66, but the sell wall above (around 4.65-4.66) is heavy, lacking effective buy absorption. Funding rates are still positive, indicating a risk of long liquidation.

Wait for clear buy absorption signals or a breakout above the upper boundary of the downward channel before reassessing. The current market structure does not support long positions; the risk-reward ratio for going short is unfavorable. The best strategy is to stay on the sidelines.

Trade 👇 $EGLD
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