$ON ran +84% and this is what the structure shows right now 👇
A 98% surge in 25 hours put it up 84% on the day, so I took a closer look at the structure.
It pushed above 0.2958 for a moment, got sold hard from 0.31 and ON is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
The spot I care about is 0.278. That's where the last $ON dip bottomed (it retraced 13% of the move) and nobody's been back since. I'd expect price to go and check it. If it closes above 0.31 though, I'm wrong.
📌 My ON trade: short from 0.303, stop at 0.3155, target 0.278 (+8.3%, 1:2)
📊 24h Vol: $178M | 24h Chg: +84.4% | Funding: +0.1048%
Top or just a pause? What do you think? 👇
Follow for daily chart breakdowns 🔔
Just my view, not financial advice.
#ON #Crypto #Trading
A 98% surge in 25 hours put it up 84% on the day, so I took a closer look at the structure.
It pushed above 0.2958 for a moment, got sold hard from 0.31 and ON is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
The spot I care about is 0.278. That's where the last $ON dip bottomed (it retraced 13% of the move) and nobody's been back since. I'd expect price to go and check it. If it closes above 0.31 though, I'm wrong.
📌 My ON trade: short from 0.303, stop at 0.3155, target 0.278 (+8.3%, 1:2)
📊 24h Vol: $178M | 24h Chg: +84.4% | Funding: +0.1048%
Top or just a pause? What do you think? 👇
Follow for daily chart breakdowns 🔔
Just my view, not financial advice.
#ON #Crypto #Trading
