ON PRICE ACTION COLLAPSES 18% IN A SINGLE SESSION ๐๐ธ
$ON is experiencing a downturn, plummeting 18% in the past 24 hours, with its price now hovering around the support zone of ~$0.11468 ๐. This decline suggests a possible healthy correction, with macro asset accumulation and order block breaches contributing to the coin's rapid price depreciation ๐. The lack of buying volume and momentum acceleration to the upside indicates a bearish trend, with
$ON struggling to find support ๐.
The coin's price is testing its lower range level, a crucial zone that will determine whether this move has further downside potential ๐. If
$ON fails to hold this level, it may lead to a structural breakdown, with the coin's price potentially dropping to new lows ๐. The current market sentiment is neutral, which may contribute to the coin's volatility, with
$ON being one of the top losers of the day ๐จ.
Levels to monitor:
Watching support around $0.11
Structure suggests resistance near $0.15
Mid range area: $0.13
DYOR
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