$ONG – Rejection From High, Bearish Pullback Setup in Play
Trading Plan (Short)
Entry: 0.0930 – 0.0945
SL: 0.0985
TP1: 0.0880
TP2: 0.0825
TP3: 0.0750
$ONG /USDT is currently trading around 0.09370, pulling back after failing to sustain momentum near the recent high at 0.11088. Price is showing signs of exhaustion, indicating buyers are losing strength after the recent push.
On the 1H timeframe, structure is shifting bearish with lower highs forming, suggesting distribution near the top. The rejection from higher levels signals a potential corrective move toward key support zones.
Immediate support lies at 0.08250 (near MA25). A break below this level can accelerate downside toward the major support at 0.06442, especially if selling pressure increases.
This setup is based on post-rejection weakness + fading momentum — a strong short opportunity unless price reclaims strength above 0.0985.
Trade $ONG here 👇
