The crowd is looking the wrong way on $ON USDT. Here is the real setup.
We just saw a massive run to 0.259, but multi-timeframe analysis reveals the true test is happening right now. The 0.1640 level is the ultimate line in the sand. Why? We have a massive confluence: the 1-hour 25 EMA and the 15-minute 99 EMA are forming a brick wall of support.
Short-term RSI is cooling off into the 40s, resetting for the next move, while the 4-hour remains strongly bullish. Combine this with the massive fundamental tailwinds driving this volume, and we have a prime setup.
If we hold 0.1640, expect a violent bounce. If a 1-hour candle closes below it, the breakdown will be swift.
Are you bidding here or waiting for the breakdown? Drop your strategy below.
ONUSDT
Perp
0.10294
+13.42%