【$ON Signal】Long - 1H breakout pullback confirmation, main force clearly defending the market

$ON The 1H timeframe has experienced a massive rally and is currently in a high-level consolidation phase to digest gains. The 4H timeframe has formed a clear upward trend, with prices staying above all key moving averages. Although the 1H RSI indicates short-term overbought conditions, open interest remains stable, and buy-side depth is far greater than sell-side, indicating that the main funds have not exited but are actively defending the market. This is a typical sign of strong consolidation, preparing for the next upward move.

🎯 Direction: Long

⚡ Entry/Order: 0.0768 - 0.0785

🛑 Stop Loss: 0.0745

🚀 Target 1: 0.0850

🚀 Target 2: 0.0890

🛡️ Trading Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price. If the price strongly breaks through Target 2, consider holding part of the position and tracking the 4H EMA20 as a trailing take-profit line.

Depth Logic: In the past 24 hours, the price has increased by nearly 20%, indicating strong momentum. The key point is that after a significant price surge, open interest has not decreased but remained stable, ruling out pure short covering and more resembling new long positions building up. Market depth shows a huge advantage for buy orders, with a large number of bids stacked below 0.083, forming a solid support cushion. The 1-hour EMA20 (0.0784) is the first line of defense for the current strong pullback and an ideal entry zone. Coupled with positive funding rates, market sentiment is bullish but not extreme, leaving room for further upside.

View real-time market 👇 $ON

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