$OG
is coiling up right under a heavy supply zone. 👀
The 24h high at 0.1944 is the obvious magnet, but the rejection from the 0.1849 level overnight tells me sellers are still active here. We’re currently consolidating at 0.1836, basically sitting on the MA60 (0.1835). This is the line in the sand for me.
The overall trend on the daily is still crushed, but that 7-day and 30-day performance is eye-catching—we're bouncing hard from those lows. RSI is neutral at 50.85, so there's room to run, but I'm not chasing this consolidation.
The upper range is clearly defined between 0.1849 and 0.1944. That's a tight resistance zone. If buyers absorb the overhead and break 0.1850 with conviction, this could kick off a quick move toward the local highs.
I'm watching for a clean 15m or 1h close above 0.1849 with volume before I even think about a play. If we reject again and lose the MA60, this range is invalidated.
📌 My current read:
Confirmation: Strong break above 0.1849 on good volume.
Invalidation: Sloppy rejection and a break back below 0.1835.
I'm waiting for that confirm before leaning long. 🧐
is coiling up right under a heavy supply zone. 👀
The 24h high at 0.1944 is the obvious magnet, but the rejection from the 0.1849 level overnight tells me sellers are still active here. We’re currently consolidating at 0.1836, basically sitting on the MA60 (0.1835). This is the line in the sand for me.
The overall trend on the daily is still crushed, but that 7-day and 30-day performance is eye-catching—we're bouncing hard from those lows. RSI is neutral at 50.85, so there's room to run, but I'm not chasing this consolidation.
The upper range is clearly defined between 0.1849 and 0.1944. That's a tight resistance zone. If buyers absorb the overhead and break 0.1850 with conviction, this could kick off a quick move toward the local highs.
I'm watching for a clean 15m or 1h close above 0.1849 with volume before I even think about a play. If we reject again and lose the MA60, this range is invalidated.
📌 My current read:
Confirmation: Strong break above 0.1849 on good volume.
Invalidation: Sloppy rejection and a break back below 0.1835.
I'm waiting for that confirm before leaning long. 🧐