【$ONDO Signal】Pullback to buy! 1H pullback confirmation, main force clearly intends to support the market
$ONDO The 1H level is experiencing a healthy correction after a massive rally, with the price finding initial support near EMA20 (0.1065). The 4H trend is strong, having broken through the long-term downtrend line, currently pulling back above EMA20 (0.0915), indicating a strong correction. The funding rate of 0.0476% is positive but not overheated, open interest (OI) remains stable, and no signs of main force fleeing are observed. The order book shows thin sell orders and deep buy orders, indicating strong support below.
🎯Direction: Long (Long)
🎯Entry/Order: 0.1120 - 0.1135 (Reason: 1H EMA20 support zone & dense buy orders in the order book )
🛑Stop loss: 0.1085 (Reason: Break below 1H previous low support & start of a large bullish candle on 4H )
🚀Target 1: 0.1195 (Reason: Previous high resistance level )
🚀Target 2: 0.1240 (Reason: 4H 1.618 Fibonacci extension level )
🛡Trade Management:
- Position suggestion: Light position (Reason: Daily gains are significant, volatility is extremely high )
- Execution strategy: After the price reaches 0.1195, reduce position by 50% and move stop loss to entry price. Hold remaining position to target 2. If the price pulls back to the entry zone and breaks below EMA20, exit all positions.
Depth logic: In the past 24 hours, the price has increased by 37%, but open interest remains stable, indicating it’s not purely a short squeeze, and new funds are entering. The 1H RSI (68.65) has fallen from overbought territory to a healthy zone, preparing for another rally. The 4H RSI (80.92) is high but tolerable in a hot coin strong cycle. The order book depth imbalance is -15.51%, with sparse sell orders and deep buy orders, which can easily push the price higher, with potential for a short squeeze.
Trade here 👇 $ONDO
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