$ON — Sharp Correction, Bears Still in Control, But Support Is Being Tested!
Short $ON
• Entry: 0.1415 – 0.1420
• Stop Loss: 0.1450
Targets:
• TP1: 0.1380
• TP2: 0.1350
• TP3: 0.1300
ON is showing a strong post-pump correction after its explosive move into the 0.209–0.23 rejection zone. On the 1D, 4H, and 1H timeframes, the structure is clearly cooling off, with lower highs and lower lows forming as price retraces aggressively into the 0.1406–0.1410 support area.
The current bounce attempts are still weak, and the broader trend remains bearish as long as price stays below the recent swing highs. That said, this is a critical level where short-term support could produce a temporary reaction. If sellers keep defending the recovery attempts, the next downside leg could target 0.1380, then 0.1350, with an extension toward 0.1300 if momentum accelerates.
The bearish bias remains valid while price holds below 0.1450. Manage risk strictly and wait for confirmation before entering. If 0.1406 holds with strength, a short-term bounce may unfold — but for now, the chart still favors the downside.
Trade $ON here 👇🏻
