$0G - SHORT Setup
Entry: 1.040 – 1.060 (On rejection from this resistance zone)
Target 1:0.980
Target 2:0.940
Stop Loss:1.075 (Above the recent high)
My View:
0G has undergone an extreme volatile pump,skyrocketing from the 24h low (0.7845) to a high of 1.1277. The price is now showing clear signs of rejection and distribution after this parabolic move. It is retracing and approaching a key resistance area defined by the initial breakdown level from the peak. The order book shows significant Ask liquidity above the current price, indicating heavy selling pressure as early buyers take profits. Such explosive moves are typically followed by sharp and deep corrections as momentum exhausts. The plan is to enter a short position on a confirmed rejection from the defined resistance area, targeting a significant retracement of the recent pump towards more sustainable support levels.
Bias: Bearish for a major correction below 1.060. A break and hold above 1.075 would suggest the asset is consolidating for another attempt higher.
Disclaimer:My plan. Not advice. Trade your own risk.
