$ONE has risen 4th on the gainers list, with a single-day surge of over 34%. Many people may mistake the current strong rally as a signal that it’s safe to jump in, while ignoring the massive support breakdown below and the extreme capital tug-of-war.
ONEchain is an EVM-compatible Layer 1 public chain optimized specifically for games. Recently, the project integrated with Korea’s national-level app marketplace, ONE Store. The brand integration and expectations for large-scale onboarding of games to the chain are the key catalysts behind this surge.
Now look at the contract positioning. A textbook squeeze-forced market is currently unfolding: the funding rate is deeply negative at -0.34%, the long/short ratio is down to an extreme 0.57, and a large number of shorts are effectively trapped. Over the past 72 hours, open interest in the futures has jumped 80.7%, while the active buy/sell ratios across all timeframes remain above 1.0, indicating that buy pressure has been steadily building. However, highly euphoric derivatives data masks the strong risk of mean reversion. A 34% intraday rally could trigger profit-taking and selling pressure at any time. This extreme squeeze mechanism essentially guarantees violent fluctuations right now.
Next, the technical picture. The current price is holding above the 20-period moving average on the 1-hour timeframe (0.00427921), and the structure remains bullish. Resistance is at 0.00523000, but the key structural support over the last 24 hours lies far below at 0.00308080, leaving a large “support vacuum” in between. Once the price breaks below the moving average, the downside retracement room is substantial.
Based on all the above data, I would enter a small long position in the price range of 0.00434612 to 0.00443436, but only if the price stabilizes above the 1-hour SMA20. Stop-loss: 0.00415054. First target: 0.00523000. Second target: 0.00530845. Volatility is extremely high right now—strictly follow the stop-loss and control position size to guard against sharp shakeouts.
The above is purely my personal opinion. I share trading insights every day—feel free to follow and connect.
ONEchain is an EVM-compatible Layer 1 public chain optimized specifically for games. Recently, the project integrated with Korea’s national-level app marketplace, ONE Store. The brand integration and expectations for large-scale onboarding of games to the chain are the key catalysts behind this surge.
Now look at the contract positioning. A textbook squeeze-forced market is currently unfolding: the funding rate is deeply negative at -0.34%, the long/short ratio is down to an extreme 0.57, and a large number of shorts are effectively trapped. Over the past 72 hours, open interest in the futures has jumped 80.7%, while the active buy/sell ratios across all timeframes remain above 1.0, indicating that buy pressure has been steadily building. However, highly euphoric derivatives data masks the strong risk of mean reversion. A 34% intraday rally could trigger profit-taking and selling pressure at any time. This extreme squeeze mechanism essentially guarantees violent fluctuations right now.
Next, the technical picture. The current price is holding above the 20-period moving average on the 1-hour timeframe (0.00427921), and the structure remains bullish. Resistance is at 0.00523000, but the key structural support over the last 24 hours lies far below at 0.00308080, leaving a large “support vacuum” in between. Once the price breaks below the moving average, the downside retracement room is substantial.
Based on all the above data, I would enter a small long position in the price range of 0.00434612 to 0.00443436, but only if the price stabilizes above the 1-hour SMA20. Stop-loss: 0.00415054. First target: 0.00523000. Second target: 0.00530845. Volatility is extremely high right now—strictly follow the stop-loss and control position size to guard against sharp shakeouts.
The above is purely my personal opinion. I share trading insights every day—feel free to follow and connect.