ON IS TESTING $0.16 AGAIN—FAIL THIS SECOND ATTEMPT, AND THE WEAK LOW MAY BECOME THE REAL TARGET.
$ON recovered from the $0.1258 area and is now approaching the $0.16–$0.18 resistance/supply zone again. The latest H4 structure shows buyers recovering, but price has not yet proven it can reclaim the same area that triggered the previous sharp rejection.
Wyckoff: $0.1258 may represent a Selling Climax, followed by a potential Automatic Rally toward $0.16. The subsequent retest near $0.127 could be interpreted as a potential Secondary Test, but accumulation is still unconfirmed. A clean reclaim of $0.16–$0.18 would be needed before treating the recovery as a genuine SOS.
SMC: the recovery produced a short-term bullish CHoCH, but price is now moving directly into overhead supply. The key downside reference remains the Weak Low around $0.1258, where liquidity could become attractive again if this rally fails.
🟢 Bullish setup: H4 close above $0.18, followed by successful acceptance/retest. That would weaken the bearish thesis and open the path toward the higher supply zones around $0.185–$0.215.
🔴 Bearish setup: rejection from $0.16–$0.18 followed by bearish CHoCH/displacement. In that scenario, $0.1258 becomes the primary downside liquidity target. Invalidation comes with sustained acceptance above $0.18.
Status: WATCH — SECOND TEST OF RESISTANCE.
The dangerous trade is assuming the recovery has already reversed the trend.
Break $0.18 and the structure changes. Fail here for the second time, and $0.1258 could become the liquidity magnet.
$ON recovered from the $0.1258 area and is now approaching the $0.16–$0.18 resistance/supply zone again. The latest H4 structure shows buyers recovering, but price has not yet proven it can reclaim the same area that triggered the previous sharp rejection.
Wyckoff: $0.1258 may represent a Selling Climax, followed by a potential Automatic Rally toward $0.16. The subsequent retest near $0.127 could be interpreted as a potential Secondary Test, but accumulation is still unconfirmed. A clean reclaim of $0.16–$0.18 would be needed before treating the recovery as a genuine SOS.
SMC: the recovery produced a short-term bullish CHoCH, but price is now moving directly into overhead supply. The key downside reference remains the Weak Low around $0.1258, where liquidity could become attractive again if this rally fails.
🟢 Bullish setup: H4 close above $0.18, followed by successful acceptance/retest. That would weaken the bearish thesis and open the path toward the higher supply zones around $0.185–$0.215.
🔴 Bearish setup: rejection from $0.16–$0.18 followed by bearish CHoCH/displacement. In that scenario, $0.1258 becomes the primary downside liquidity target. Invalidation comes with sustained acceptance above $0.18.
Status: WATCH — SECOND TEST OF RESISTANCE.
The dangerous trade is assuming the recovery has already reversed the trend.
Break $0.18 and the structure changes. Fail here for the second time, and $0.1258 could become the liquidity magnet.
