$ONG is showing an interesting setup on the 1H chart.
After a strong move from around $0.06, price pushed sharply higher and recently reached the $0.10 area.
Now we’re seeing a pullback, which could give the market a chance to retest the breakout structure.
The main level I’m watching is $0.0849. If #Ong comes back to this area, holds it as support, and buyers step in, I’d be watching for another move toward $0.10 and potentially $0.12.
The important thing here is not to chase the previous pump. I’d rather see a clean retest and confirmation that buyers are still defending the new support.
If $0.0849 holds, the bullish setup remains interesting. If it breaks decisively, I’d become more cautious and wait for the next support to form. #bullish
After a strong move from around $0.06, price pushed sharply higher and recently reached the $0.10 area.
Now we’re seeing a pullback, which could give the market a chance to retest the breakout structure.
The main level I’m watching is $0.0849. If #Ong comes back to this area, holds it as support, and buyers step in, I’d be watching for another move toward $0.10 and potentially $0.12.
The important thing here is not to chase the previous pump. I’d rather see a clean retest and confirmation that buyers are still defending the new support.
If $0.0849 holds, the bullish setup remains interesting. If it breaks decisively, I’d become more cautious and wait for the next support to form. #bullish
