$ONDO 1H level is undergoing a strong consolidation at a high position after experiencing a surge, with prices forming a new support platform in the range of 0.1140-0.1160. The 4H level big bullish candlestick establishes an upward trend. Although the 1H RSI has fallen from the overbought zone to 68, the price refuses to undergo a deep correction, which is a strong characteristic. The depth of buy orders significantly exceeds sell orders, with an imbalance of 17%, indicating strong support below. OI remains stable, and prices are firm, suggesting the possibility of strong market support or short squeeze.
🎯 Direction: Long
🎯 Entry/Order: 0.1142 - 0.1148 (Reason: 1H EMA20 dynamic support area and current consolidation platform lower edge)
🛑 Stop Loss: 0.1120 (Reason: Break below the 1H consolidation platform and the low point of the previous hourly candlestick)
🚀 Target 1: 0.1198 (Reason: Previous high resistance level, also the preliminary target at 4H level)
🚀 Target 2: 0.1250 (Reason: Based on the 1.382 Fibonacci extension level of the recent price increase)
🛡️ Trade Management:
- Position suggestion: Light position (Reason: Daily increase has exceeded 35%, volatility is extremely high)
- Execution strategy: After reaching Target 1, reduce the position by 50% to lock in profits, and move the stop loss of the remaining position to the entry price. If the price strongly breaks through 0.1200, the remaining position's stop loss can be moved to hold for greater space.
Deep Logic: The 4H level has broken a long-term downward trend with huge volume, which is a strong signal of trend reversal. The 1H level has not shown panic selling after the surge but has consolidated at a high position, which is a typical strong handover. The funding rate of 0.0636% is positive but not extreme, indicating still upward potential. Buy orders are accumulating significantly, while sell orders are sparse; slight buying can push prices up, and a short squeeze structure is brewing. The key is to hold the 0.1140 platform; if it holds, the bullish pattern remains intact.
Trade here 👇
$ONDO ---
Follow me: Get more real-time analysis and insights on the crypto market!
#giggle #X平台将可交易加密资产 #10000 @币安广场 $ETH