The chart shows that the price has recently surged and is approaching a resistance zone. The RSI (Relative Strength Index) is currently at 74, which is in the Overbought territory, suggesting a potential short-term pullback or correction.
Trade Direction: Short (Betting on a slight price drop)
Stop Loss: $0.06585 (Place this just above the recent high to protect your capital)
Technical Observations:
RSI Overextended: Since the RSI is above 70, the buying momentum might be exhausting, making a "Sell" or "Short" position more likely to succeed in the very short term.
Volume: There is a spike in volume, but the price is hitting a ceiling. If it fails to break $0.06573 decisively, it will likely drop to test lower support levels.
Risk Management: Use low leverage (e.g., 3x or 5x) because ONT can be volatile, and scalping requires quick exits if the trade goes against you.
JUP is showing signs of resistance after a strong rally. Looking at the current price action and RSI, a pullback towards lower support levels is expected.
🛑 Entry: Current Market Price ($0.2532)
🎯 Take Profit Targets:
Target 1: $0.2300
Target 2: $0.2200
Target 3: $0.2100
⚠️ Stop Loss: $0.2650 (Manage your risk accordingly)
Disclaimer: This is not financial advice. Please do your own research (DYOR) before entering any trade.
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What’s happening Market is trending up (higher highs, higher lows) Price keeps hitting a resistance level Suddenly → price spikes above resistance (this is the liquidity sweep) Then it quickly reverses back down Price comes back to retest that same level Market structure breaks down (BOS) → confirms bearish move
Step 1: Identify the trend You see an uptrend Pattern forming: Ascending Triangle Resistance = flat top where price keeps rejecting
Entry: Retest + bearish confirmation Stop Loss: Above sweep high Take Profit: 1:4 RR or support Confirmation: BOS (very important)