ONT printed a +29.8% candle today, tagging the 7-day high at 0.0725.
The 14-day RSI is now at 76. That's deep in overbought territory, with price stretched far from the 20-day EMA of 0.0589.
This tape looks exhausted. The desk's view is that this is a rally to sell into, not chase. A clean break and hold above the 0.0725 high would prove that wrong.
Is this a clean breakout or the exit liquidity pump?
$ONT
New reads post through the day. Follow so you don't miss the next one.
The 14-day RSI is now at 76. That's deep in overbought territory, with price stretched far from the 20-day EMA of 0.0589.
This tape looks exhausted. The desk's view is that this is a rally to sell into, not chase. A clean break and hold above the 0.0725 high would prove that wrong.
Is this a clean breakout or the exit liquidity pump?
$ONT
New reads post through the day. Follow so you don't miss the next one.
