$ON is getting absolutely crushed right now 🔥
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 $0.39–$0.40 zone, followed by aggressive selling. Buyers haven’t managed to regain control yet.
Here’s what I’m watching 👇
🔴 $0.23–$0.20 → next major downside zone
If selling pressure continues, this area could come into play in the next few sessions.
⚠️ RSI(7) is entering oversold territory, so a short-term bounce can happen at any time. But oversold ≠ automatic reversal.
For the bears, momentum still looks clean.
For the bulls, I’d want to see selling exhaustion + a strong reclaim before calling a bottom.
So yeah… don’t blindly catch this falling knife. 🗡️
If $0.23 starts breaking with volume, $0.20 could get tested pretty damn fast.
#OrochiNetwork#
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 $0.39–$0.40 zone, followed by aggressive selling. Buyers haven’t managed to regain control yet.
Here’s what I’m watching 👇
🔴 $0.23–$0.20 → next major downside zone
If selling pressure continues, this area could come into play in the next few sessions.
⚠️ RSI(7) is entering oversold territory, so a short-term bounce can happen at any time. But oversold ≠ automatic reversal.
For the bears, momentum still looks clean.
For the bulls, I’d want to see selling exhaustion + a strong reclaim before calling a bottom.
So yeah… don’t blindly catch this falling knife. 🗡️
If $0.23 starts breaking with volume, $0.20 could get tested pretty damn fast.
#OrochiNetwork#