【$SONIC Signal】Long | Healthy Pullback After Short Squeeze Initiation

$SONIC After experiencing a 22% short squeeze-driven surge, the price is undergoing a healthy correction below a key resistance zone. The 4H chart shows a pullback after breaking the previous high (0.05256) to confirm support, currently holding above the EMA20 (0.0490). This is a typical trend continuation pattern.

🎯 Direction: Long

🎯 Entry: 0.0585 - 0.0590 (Breakout level before pullback and dense buy orders in the order book)

🛑 Stop Loss: 0.0560 (Break below the low of the 4H bullish candle, rigid stop loss)

🚀 Target 1: 0.0640 (Previous wave high resistance)

🚀 Target 2: 0.0680 (Fibonacci 0.618 extension on the daily chart)

Core logic: 1) Short squeeze driven: Funding rate at -0.45% with stable open interest indicates sellers are still under pressure, and any correction could trigger a new round of short squeeze. 2) Order book support: Depth imbalance reaches 12.22%, with buy orders significantly thicker than sell orders, showing institutional support at key levels. 3) Technical resonance: Price stabilizes above EMA20, RSI (75.75) is high but in a strong zone, and ATR (0.0044) indicates healthy volatility expansion, not a top with volume divergence. The current consolidation is a healthy reset after a surge, not distribution.

Trade here 👇 $SONIC

---

Follow me: Get more real-time analysis and insights on the crypto market!

‍#我在Gate广场过新年 #当前行情抄底还是观望？ $BTC $ETH $SOL