$ON ran +16% and this is what the structure shows right now 👇
A 31% surge in 19 hours put it up 16% on the day, so I took a closer look at the structure.
It pushed above 0.1777 for a moment, got sold hard from 0.1908 and ON is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
My eyes are $ON 0.1635, the low of the earlier pullback. A lot of stops are sitting there and price hasn't tested it yet. Above 0.1908 I'm out of this idea.
📌 My ON trade: short from 0.182, stop at 0.1912, target 0.1635 (+10.2%, 1:2)
📊 24h Vol: $27.8M | 24h Chg: +15.7% | Funding: +0.0050%
Top or just a pause? What do you think? 👇
Follow for daily chart breakdowns 🔔
My opinion only. Not financial advice, do your own research.
#ON #Analysis #Trading
A 31% surge in 19 hours put it up 16% on the day, so I took a closer look at the structure.
It pushed above 0.1777 for a moment, got sold hard from 0.1908 and ON is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
My eyes are $ON 0.1635, the low of the earlier pullback. A lot of stops are sitting there and price hasn't tested it yet. Above 0.1908 I'm out of this idea.
📌 My ON trade: short from 0.182, stop at 0.1912, target 0.1635 (+10.2%, 1:2)
📊 24h Vol: $27.8M | 24h Chg: +15.7% | Funding: +0.0050%
Top or just a pause? What do you think? 👇
Follow for daily chart breakdowns 🔔
My opinion only. Not financial advice, do your own research.
#ON #Analysis #Trading
