【$ON Signal】Retesting trend support, betting on a second peak
On the 1H level, it has slightly pulled back from the high of 0.16634, and the current price of 0.15214 is still well above the SUPERTREND support of 0.10701, indicating a strong bullish structure. The 4H MACD fast and slow lines are diverging upwards above the zero axis, and the 1H trading volume is gradually shrinking, with limited selling pressure, representing a healthy consolidation after a sharp rise.
If the price can stabilize in the range of 0.130 to 0.140, it could be a direct entry point.
Set the stop loss below 0.118; a breach would weaken the short-term bullish structure.
The first target is aimed at 0.165, and a breakout could test 0.175.
This type of consolidation with decreasing volume approaching the previous high often indicates a buildup of momentum, and the risk-reward ratio is favorable, with the key being to accumulate in batches at support.
After reaching the first target, reduce the position by half, and move the stop loss of the remaining position to the breakeven point. The OI open interest continues to grow, and there has been no concentration of profit-taking. The 1H RSI has pulled back from the overbought area to around 60, remaining in a strong zone with the potential for another upward push. The 4H Bollinger Bands are opening upwards, with the middle line moving up to around 0.130; as long as the price doesn't break the middle line on a pullback, the trend will continue.
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---#加密市场反弹
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On the 1H level, it has slightly pulled back from the high of 0.16634, and the current price of 0.15214 is still well above the SUPERTREND support of 0.10701, indicating a strong bullish structure. The 4H MACD fast and slow lines are diverging upwards above the zero axis, and the 1H trading volume is gradually shrinking, with limited selling pressure, representing a healthy consolidation after a sharp rise.
If the price can stabilize in the range of 0.130 to 0.140, it could be a direct entry point.
Set the stop loss below 0.118; a breach would weaken the short-term bullish structure.
The first target is aimed at 0.165, and a breakout could test 0.175.
This type of consolidation with decreasing volume approaching the previous high often indicates a buildup of momentum, and the risk-reward ratio is favorable, with the key being to accumulate in batches at support.
After reaching the first target, reduce the position by half, and move the stop loss of the remaining position to the breakeven point. The OI open interest continues to grow, and there has been no concentration of profit-taking. The 1H RSI has pulled back from the overbought area to around 60, remaining in a strong zone with the potential for another upward push. The 4H Bollinger Bands are opening upwards, with the middle line moving up to around 0.130; as long as the price doesn't break the middle line on a pullback, the trend will continue.
Check real-time market data 👇
---#加密市场反弹
Follow me: Get more real-time analysis and insights on the crypto market!