【$ON Signal】1H timeframe shows high-level oscillation, waiting for a pullback to go long

$ON After a surge on the 1H timeframe, the price enters a high-level consolidation, RSI drops from 68.55, initial signs of a buy-side gap. The 4H MACD histogram is still expanding, but the price has touched the upper Bollinger Band at 0.1634, indicating increasing short-term risk of chasing higher. Market depth shows buy support is decent, but the funding rate at 0.0443% is relatively high, increasing the holding cost for longs.

The current price is near the upper boundary of the suggested entry zone, directly chasing higher offers a poor risk-reward ratio. A better strategy is to wait for the price to pull back to the 0.1008 - 0.14147 range, looking for a second opportunity for bulls to re-engage.

⚡Entry: Place a buy order near 0.1008.

🛑Stop loss: 0.09194.

🚀Target 1: 0.14226.

🚀Target 2: 0.14283.

🛡️Trade management: - Execute strategy: After reaching Target 1, reduce position by 50%, and move the remaining stop loss up to the entry price. If the price cannot effectively hold above the entry zone, decisively exit and observe.

The 1H EMA50 at 0.1056 provides dynamic support, resonating with the lower boundary of the suggested entry zone. The 4H volume shrank after the surge, indicating a healthy correction is needed to digest the floating positions. Stable open interest suggests funds are not leaving en masse, and after this high-level turnover, there’s often an inertia for another upward push. The key is to confirm the strength of support, with the 0.10 level being a critical dividing line between strength and weakness.

Check real-time market 👇 $ON
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