$ON 1-hour volume surged 21x into the close, closing above the 48-hour high
Earlier, I mentioned the 15m volume surge at 0.1817. This 1h candle closed at 0.1836, with 13.2 million U in volume and aggressive buyers accounting for 62%.
My take: The 1h close is a stronger confirmation than the earlier 15m volume surge. Coin-margined open interest is up 5.0% over 1h and 7.8% over 4h, with volume and open interest moving in sync. Market cap is about 35 million, and the funding rate is +0.006%, so things aren't crowded. One concern: the price has now pulled back to 0.179, 1.5% below the first alert, after this candle already gained 6.7%, so a retest is likely.
Holding above 0.1836 would count as confirmation; falling back to 0.1743 would make it a false move.
Do you think this move by $ON is a trend continuation or a pullback after a spike? Share your thoughts in the comments.
#ON #山寨币 #Futures
This is not investment advice
Earlier, I mentioned the 15m volume surge at 0.1817. This 1h candle closed at 0.1836, with 13.2 million U in volume and aggressive buyers accounting for 62%.
My take: The 1h close is a stronger confirmation than the earlier 15m volume surge. Coin-margined open interest is up 5.0% over 1h and 7.8% over 4h, with volume and open interest moving in sync. Market cap is about 35 million, and the funding rate is +0.006%, so things aren't crowded. One concern: the price has now pulled back to 0.179, 1.5% below the first alert, after this candle already gained 6.7%, so a retest is likely.
Holding above 0.1836 would count as confirmation; falling back to 0.1743 would make it a false move.
Do you think this move by $ON is a trend continuation or a pullback after a spike? Share your thoughts in the comments.
#ON #山寨币 #Futures
This is not investment advice
