📉 Short Setup: $ON
(The Hype is Cooling)
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The euphoria has officially faded. $ON is showing clear signs of exhaustion after its recent rally. We are now printing a series of lower highs, and every attempt to bounce is met with heavy sell pressure. Gravity is taking over, and the path of least resistance is now to the downside. ⚡
📉 Trade Details
Direction: SHORT 🔴
Entry Zone: 0.165 – 0.175
Stop Loss (SL): 0.195
🎯 Take Profit Targets
TP 1: 0.150
TP 2: 0.138
TP 3: 0.125
🔍 Technical Breakdown:
Market Sentiment: The "FOMO" stage is over. Price is struggling to reclaim previous support levels, which have now flipped into resistance.
Control Zone: As long as we stay below 0.175, the sellers remain in full control.
Momentum: The volume on the bounces is decreasing, while the volume on the red candles is picking up—a textbook sign of a trend reversal.
Risk Management: Volatility can be tricky when hype cools off. Stick to your SL and don't let a "dead cat bounce" shake you out of your plan! 🛡️
Is $ON headed for a major correction, or will the bulls find a floor? Let’s hear your take in the comments!
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