ON has plunged over 66% from its 11/9 high of 0.269! The truth behind ON’s 7% green move in the “retreating tide massacre”!
Today’s clearest warning sign of an “early explosive rally bubble bursting”! Orochi Network (ON) showed a modest 7.47% gain in today’s rolling window, at $0.0906, but compared with its frenzied November 9 peak of $0.2690, the price has plunged over 66%!
In-depth review: The wave of capital that piled in as open interest (OI) surged 118% and longs paid recklessly has long since completely ebbed away, leaving investors wiped out. Today’s green move is merely a slight bounce from the low-level remnants after a deep-drop disaster.
Conclusion: $0.0900 is the current low-level price zone. Assets that have lost momentum after an explosive rally are extremely weak. Don’t mistake this for a second major upward wave; it’s best to stay on the sidelines!
#ON #Orochi
$ON
Today’s clearest warning sign of an “early explosive rally bubble bursting”! Orochi Network (ON) showed a modest 7.47% gain in today’s rolling window, at $0.0906, but compared with its frenzied November 9 peak of $0.2690, the price has plunged over 66%!
In-depth review: The wave of capital that piled in as open interest (OI) surged 118% and longs paid recklessly has long since completely ebbed away, leaving investors wiped out. Today’s green move is merely a slight bounce from the low-level remnants after a deep-drop disaster.
Conclusion: $0.0900 is the current low-level price zone. Assets that have lost momentum after an explosive rally are extremely weak. Don’t mistake this for a second major upward wave; it’s best to stay on the sidelines!
#ON #Orochi
$ON