🚨 Want To Short $ON ? Be Careful! You're Ignoring Something Important
Funding is extremely positive, with OI-weighted funding reaching nearly 0.09% before cooling towards 0.05%. Open interest expanded from around 63M to nearly 80M contracts. The overall account ratio is around 0.92, with 52.02% short accounts. Top trader account ratio is around 0.77, while their position ratio remains near 1.48. Shorts are crowded, and another squeeze is possible.
Now look at the flows. 24H futures net inflow stands at +$3.46M, while spot net inflow is +$281.19K. The 1H spot flow is +$70.66K, against futures outflow of $1.20M. Spot CVD is around +5M and futures CVD around +64.1M. Orderbook delta is also positive, showing that buying activity is still present.
The liquidation heatmap shows downside liquidity around $0.208–$0.212, followed by $0.198–$0.200. Above price, I'm watching $0.223–$0.228 and $0.237–$0.244.
But guys, ON has already fallen from $0.3136 to around $0.213. The rejection was aggressive, and price still isn't showing convincing recovery strength. It could definitely drop further.
Still, I don't want to chase a short here. Positive spot flows, rising CVD and crowded short positioning create squeeze risk. Personally, I still prefer LONG, but only after buyers confirm their strength.
My ON configuration:
Current Entry: $0.212-$0.214
Recommended entry: $0.203–$0.207
Deep entry: $0.193–$0.199
TP1: $0.225
TP2: $0.240
TP3: $0.260
Max TP: $0.295
SL: $0.188
Wait for a bullish rejection, a 30M close reclaiming the entry zone and a successful retest. I also want spot CVD rising and buying pressure returning.
If $0.198 breaks decisively without recovery, cancel the long setup. Don't average down blindly.
Guys, maybe $ON drops more, but shorting after such a huge correction is risky. Let buyers prove themselves first. No confirmation, no trade. Protect your capital...🤝
Funding is extremely positive, with OI-weighted funding reaching nearly 0.09% before cooling towards 0.05%. Open interest expanded from around 63M to nearly 80M contracts. The overall account ratio is around 0.92, with 52.02% short accounts. Top trader account ratio is around 0.77, while their position ratio remains near 1.48. Shorts are crowded, and another squeeze is possible.
Now look at the flows. 24H futures net inflow stands at +$3.46M, while spot net inflow is +$281.19K. The 1H spot flow is +$70.66K, against futures outflow of $1.20M. Spot CVD is around +5M and futures CVD around +64.1M. Orderbook delta is also positive, showing that buying activity is still present.
The liquidation heatmap shows downside liquidity around $0.208–$0.212, followed by $0.198–$0.200. Above price, I'm watching $0.223–$0.228 and $0.237–$0.244.
But guys, ON has already fallen from $0.3136 to around $0.213. The rejection was aggressive, and price still isn't showing convincing recovery strength. It could definitely drop further.
Still, I don't want to chase a short here. Positive spot flows, rising CVD and crowded short positioning create squeeze risk. Personally, I still prefer LONG, but only after buyers confirm their strength.
My ON configuration:
Current Entry: $0.212-$0.214
Recommended entry: $0.203–$0.207
Deep entry: $0.193–$0.199
TP1: $0.225
TP2: $0.240
TP3: $0.260
Max TP: $0.295
SL: $0.188
Wait for a bullish rejection, a 30M close reclaiming the entry zone and a successful retest. I also want spot CVD rising and buying pressure returning.
If $0.198 breaks decisively without recovery, cancel the long setup. Don't average down blindly.
Guys, maybe $ON drops more, but shorting after such a huge correction is risky. Let buyers prove themselves first. No confirmation, no trade. Protect your capital...🤝
