🔴 $ON Market Insight
ON just saw long liquidations at $0.1305, indicating bulls were overleveraged and got wiped out. This often leads to temporary bearish pressure followed by stabilization.
Key support lies at $0.1270, and if this level holds, price could attempt a recovery. However, resistance at $0.1340 is strong, and rejection here could lead to another downside leg.
If bulls regain control and push above resistance, we could see a move toward $0.1385 🎯. On the flip side, losing support may drag price down to $0.1235.
Market structure is currently fragile, and price action will depend heavily on whether buyers step in at support.
Trade Setup:
Entry Zone: $0.1280–$0.1300
Target 🎯: $0.1385
Stop Loss: $0.1255
Next Move: Choppy consolidation expected before a decisive breakout or breakdown.
