$ON is getting absolutely crushed right now đ„
It's down about 38% in just two days, and the downward momentum is still going strong.
And daily chart is showing a clear rejection from the $0.39â$0.40 zone, followed by aggressive selling. Buyers havenât managed to regain control yet.
Hereâs what Iâm watching đ
đŽ $0.23â$0.20 â next major downside zone
If selling pressure continues, this area could come into play in the next few sessions.
â ïž RSI(7) is entering oversold territory, so a short-term bounce can happen at any time. But oversold â automatic reversal.
For the bears, momentum still looks clean.
For the bulls, Iâd want to see selling exhaustion + a strong reclaim before calling a bottom.
So yeah⊠donât blindly catch this falling knife. đĄïž
If $0.23 starts breaking with volume, $0.20 could get tested pretty damn fast.
It's down about 38% in just two days, and the downward momentum is still going strong.
And daily chart is showing a clear rejection from the $0.39â$0.40 zone, followed by aggressive selling. Buyers havenât managed to regain control yet.
Hereâs what Iâm watching đ
đŽ $0.23â$0.20 â next major downside zone
If selling pressure continues, this area could come into play in the next few sessions.
â ïž RSI(7) is entering oversold territory, so a short-term bounce can happen at any time. But oversold â automatic reversal.
For the bears, momentum still looks clean.
For the bulls, Iâd want to see selling exhaustion + a strong reclaim before calling a bottom.
So yeah⊠donât blindly catch this falling knife. đĄïž
If $0.23 starts breaking with volume, $0.20 could get tested pretty damn fast.