Two different setups are developing, and neither looks ideal for chasing right now.
š¢ $ONG
ONG was rejected around 0.0930 and then slipped below the MA7 near 0.0869. That makes the 0.0869ā0.0898 region the first important reclaim zone.
If price can hold 0.0835ā0.0817 while selling volume starts to fade, the pullback could simply be a reset before another attempt toward 0.0930.
However, losing that support zone would weaken the structure and bring 0.0796ā0.0789 into focus as the next stronger support.
šµ $PROM
PROM faced a stronger supply reaction around 4.991, with the rejection backed by heavy volume.
The positive point is that price remains above its rising MA7 around 4.27. As long as 4.15ā4.27 continues to hold, the broader structure remains constructive, potentially allowing another move toward 4.60 ā 4.99.
A clean breakdown below 4.15 would shift attention toward the MA25 near 3.88.
šÆ My Take
$ONG needs to reclaim resistance. needs to defend support.
For now, neither setup offers a reason to chase aggressively. The key question is:
Which one confirms its next move first ā ONG or PROM ? š