đ ONG dumped -12.2% but the RSI is dead neutral at 49.9 â something doesn't add up.
ONT is at $0.1132 with $15M volume, but that volume is declining (0.62x normal). The 4H RSI at 49.9 and daily RSI at 55.4 both say "consolidation," not "crash." Price has pulled back from SMA7 ($0.1184) but is still near SMA25 ($0.1170) on the 4H.
đ Why This Trade?
The -12% drop looks scary on the ticker, but the technicals suggest this is a shakeout, not a breakdown. Declining volume on the sell-off = sellers running out of ammo. The daily SMA25 ($0.0697) is far below, so the macro uptrend is intact.
đŻ Trade Plan:
âą Entry: $0.0952 - $0.1312 (wide range = uncertainty)
âą Stop Loss: $0.0664 (below daily support)
âą TP1: $0.1177 (return to SMA7)
âą TP2: $0.1223 (extension)
âą â ïž Wide entry range = reduce position size
đ€ Shakeout or trend change? Is ONG a smart buy at these levels? đ€
#ONG #CryptoTrading #DYOR
â ïž Disclaimer: Not financial advice. Do your own research. Trade only what you can afford to lose.
ONT is at $0.1132 with $15M volume, but that volume is declining (0.62x normal). The 4H RSI at 49.9 and daily RSI at 55.4 both say "consolidation," not "crash." Price has pulled back from SMA7 ($0.1184) but is still near SMA25 ($0.1170) on the 4H.
đ Why This Trade?
The -12% drop looks scary on the ticker, but the technicals suggest this is a shakeout, not a breakdown. Declining volume on the sell-off = sellers running out of ammo. The daily SMA25 ($0.0697) is far below, so the macro uptrend is intact.
đŻ Trade Plan:
âą Entry: $0.0952 - $0.1312 (wide range = uncertainty)
âą Stop Loss: $0.0664 (below daily support)
âą TP1: $0.1177 (return to SMA7)
âą TP2: $0.1223 (extension)
âą â ïž Wide entry range = reduce position size
đ€ Shakeout or trend change? Is ONG a smart buy at these levels? đ€
#ONG #CryptoTrading #DYOR
â ïž Disclaimer: Not financial advice. Do your own research. Trade only what you can afford to lose.