$ONG is currently trading in a broader falling channel / wedge pattern on the daily timeframe, attempting to establish a local bottom.
Key Support: The primary demand baseline lies around $0.040 – $0.041 USDT. Holding above this level is critical to avoid further downward expansion.
Key Resistance: Immediate overhead supply rests between $0.048 – $0.051 USDT, followed by strong structural resistance near $0.060 USDT.
Momentum Indicators: RSI is hovering near oversold-to-neutral levels (~38–45), indicating that seller momentum is diminishing but buyer volume remains low.
Trade Outlook: Wait for a confirmed breakout above immediate falling resistance with sustained volume before taking long positions, or trade the range bounce off the $0.041 support level.#USJoblessClaimsFallTo206000 #WalmartFalls7% #KOSPICloses5.9%HigherOnChipmakerBuybacks #CFTCSeeksInputOnComputeDerivatives
Key Support: The primary demand baseline lies around $0.040 – $0.041 USDT. Holding above this level is critical to avoid further downward expansion.
Key Resistance: Immediate overhead supply rests between $0.048 – $0.051 USDT, followed by strong structural resistance near $0.060 USDT.
Momentum Indicators: RSI is hovering near oversold-to-neutral levels (~38–45), indicating that seller momentum is diminishing but buyer volume remains low.
Trade Outlook: Wait for a confirmed breakout above immediate falling resistance with sustained volume before taking long positions, or trade the range bounce off the $0.041 support level.#USJoblessClaimsFallTo206000 #WalmartFalls7% #KOSPICloses5.9%HigherOnChipmakerBuybacks #CFTCSeeksInputOnComputeDerivatives
