$ON – Parabolic Rally Losing Steam 📉⚠️
After an aggressive upside move, $ON is now showing clear signs of exhaustion. The structure is weakening, and sellers are stepping in with confidence on every bounce.
🔻 Short Entry: 0.1565 – 0.1590
🎯 Targets: 0.1490 | 0.1425 | 0.1360
🛑 Stop Loss: 0.1635
📊 Reason: Price recently exploded toward the 0.17 zone but faced strong rejection and is now trending downward, breaking key support levels. Each bounce attempt is getting weaker, indicating fading bullish momentum. Selling volume is dominating, which confirms that bears are in control. When a parabolic rally fails like this and structure starts to collapse, it often leads to a deeper correction as traders rush to secure profits.
Trade $ON here 👇
ONUSDT (Perp)
Current Price: 0.1572 (+23.96%)