【$ON Signal】1H timeframe overbought, waiting for a pullback to buy

$ON 1H timeframe RSI reached 94, price has broken out of the upper Bollinger Band, buying pressure is extremely crowded. The 4H MACD histogram is still expanding, but trading volume has decreased on the most recent candle, indicating momentum for chasing higher is beginning to fade. Market depth shows sell orders slightly thicker than buy orders, funding rate is 0.099% which is relatively high, suggesting a short-term pullback is needed.

Current price is not suitable for chasing higher, patiently wait for funds to cool down.

⚡Order: Enter long around 0.09088.

🛑Stop loss: 0.08786.

🚀Target 1: 0.12734.

🚀Target 2: 0.12785.

🛡️Trade management: - Execute strategy: reduce 50% of position after reaching Target 1, and move stop loss to break-even. If price falls back into the entry zone, automatically exit to protect principal.

The 4H EMA20 and EMA50 are in a bullish alignment, and the medium-term trend remains intact. The extreme overbought condition on the 1H timeframe requires time to digest, but stable open interest indicates funds are not exiting en masse. This deep pullback after an initial rapid rise is often a golden opportunity before a second jump, with a favorable risk-reward ratio.

View real-time market 👇 $ON
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