$ON is showing impressive momentum: up 24.44% in 24 hours, currently at 0.1339, with a high of 0.1681, a low of 0.1035, and a trading volume of 51.34 million.
But when I see a chart like this, my first reaction usually isn't to jump in. I take my hands off the keyboard and give myself three seconds to cool down. It shot straight from 0.1035 to 0.1681 with barely any meaningful pullback along the way. That kind of move means rapid turnover, and nobody can say for sure who's going to take over the baton next.
At 0.1339, the current price is sitting right in the middle of the range. Above, it faces resistance at 0.1681; below, it's not far from the 0.1035 launch point. Chasing it at this level could easily leave you getting hit from both sides.
I keep an eye on two levels: 0.1035 below—if it breaks, that's a sign the excitement is fading, so don't get emotionally attached; and 0.1681 above—until it breaks through on strong volume, don't expect it to shoot straight past.
The most comfortable entry is never while it's surging.
#ON
But when I see a chart like this, my first reaction usually isn't to jump in. I take my hands off the keyboard and give myself three seconds to cool down. It shot straight from 0.1035 to 0.1681 with barely any meaningful pullback along the way. That kind of move means rapid turnover, and nobody can say for sure who's going to take over the baton next.
At 0.1339, the current price is sitting right in the middle of the range. Above, it faces resistance at 0.1681; below, it's not far from the 0.1035 launch point. Chasing it at this level could easily leave you getting hit from both sides.
I keep an eye on two levels: 0.1035 below—if it breaks, that's a sign the excitement is fading, so don't get emotionally attached; and 0.1681 above—until it breaks through on strong volume, don't expect it to shoot straight past.
The most comfortable entry is never while it's surging.
#ON