$ON is currently trading around $0.40 on the 1H chart and the structure is looking interesting after several days of sideways movement.
Price has been moving inside a wide range, but buyers are still showing strength around the $0.35–$0.34 support zone. The chart suggests that if $ON gets a pullback into this area and buyers defend it, we could see another move toward the $0.38–$0.40 region and potentially higher.
For me, the key level is around $0.322, which sits below the marked support zone. As long as that area continues to hold, the bullish setup remains valid.
I’m not looking to chase ON at the current price. I’d rather see a clean pullback, confirmation from buyers, and then a continuation. If the support fails, the setup changes completely.
Simple chart, but definitely one I’m keeping on my watchlist.
Price has been moving inside a wide range, but buyers are still showing strength around the $0.35–$0.34 support zone. The chart suggests that if $ON gets a pullback into this area and buyers defend it, we could see another move toward the $0.38–$0.40 region and potentially higher.
For me, the key level is around $0.322, which sits below the marked support zone. As long as that area continues to hold, the bullish setup remains valid.
I’m not looking to chase ON at the current price. I’d rather see a clean pullback, confirmation from buyers, and then a continuation. If the support fails, the setup changes completely.
Simple chart, but definitely one I’m keeping on my watchlist.