$ON Short-Term Rally Review:
1) Up 17.81% in 1 hour, current price 0.268, up 69.73% over 24 hours.
2) The 24-hour high of 0.2749 is the nearest resistance. Avoid chasing too aggressively before it breaks above that level.
3) 24-hour trading volume is $121 million. A rally accompanied by sustained increases in volume is more credible; be wary of a pullback if prices surge on declining volume.
Conclusion: The trend is upward, but don't chase a sharp rally. Waiting for a pullback to confirm the move is a more measured approach.
Anyone knowledgeable want to share their thoughts?
1) Up 17.81% in 1 hour, current price 0.268, up 69.73% over 24 hours.
2) The 24-hour high of 0.2749 is the nearest resistance. Avoid chasing too aggressively before it breaks above that level.
3) 24-hour trading volume is $121 million. A rally accompanied by sustained increases in volume is more credible; be wary of a pullback if prices surge on declining volume.
Conclusion: The trend is upward, but don't chase a sharp rally. Waiting for a pullback to confirm the move is a more measured approach.
Anyone knowledgeable want to share their thoughts?