$ONE This daily chart really feels tough. In the past 24 hours it just got driven down directly by 21 points: from 0.00319 all the way to 0.00231. The trading volume was 193M, which shows it’s not that nobody’s taking it—people are catching it, but one batch after another is getting buried.
My take: the short-term downtrend hasn’t finished yet. That low at 0.00231 will most likely be retested once more, or even a wick down to around 0.0022. Why? Because after breaking below 0.0025 there hasn’t been a convincing rebound, which suggests the sell pressure is still there.
But I’m not going to chase a short here. Shorting at this spot has a terrible risk-reward ratio—an upside rebound could come at any time.
Trading logic:
- If you’re trying to bet on a rebound, place orders around 0.0023. Set your stop-loss 0.0022 below. First target is 0.0026. If it can reach 0.0028, reduce your position.
- If you want to short, don’t rush. Wait until the rebound reaches 0.0026–0.0027 before entering. That area turns former support into resistance.
There are only two key levels: 0.00231 is the last line of defense. If it breaks, then look to 0.0020. Above, 0.0026 is the watershed level for whether a rebound can hold.
As for what I’m doing personally: I’ll try a small position at 0.0023 first. If it breaks down, I’ll run—no lingering. This coin right now is pure sentiment trading; don’t talk to it about belief.
My take: the short-term downtrend hasn’t finished yet. That low at 0.00231 will most likely be retested once more, or even a wick down to around 0.0022. Why? Because after breaking below 0.0025 there hasn’t been a convincing rebound, which suggests the sell pressure is still there.
But I’m not going to chase a short here. Shorting at this spot has a terrible risk-reward ratio—an upside rebound could come at any time.
Trading logic:
- If you’re trying to bet on a rebound, place orders around 0.0023. Set your stop-loss 0.0022 below. First target is 0.0026. If it can reach 0.0028, reduce your position.
- If you want to short, don’t rush. Wait until the rebound reaches 0.0026–0.0027 before entering. That area turns former support into resistance.
There are only two key levels: 0.00231 is the last line of defense. If it breaks, then look to 0.0020. Above, 0.0026 is the watershed level for whether a rebound can hold.
As for what I’m doing personally: I’ll try a small position at 0.0023 first. If it breaks down, I’ll run—no lingering. This coin right now is pure sentiment trading; don’t talk to it about belief.
