【$ON Signal】The risk of chasing gains is extremely high; wait for a pullback to re-enter

$ON 1H level RSI soared to 96.29, buying pressure is extremely crowded, 4H level also surged to 90.26, which is a typical overbought overheating state. The upper band of the 4H Bollinger Bands was directly broken through, and the price is oscillating at a high level around 0.147, but trading volume has fallen back from the peak, indicating that the momentum to chase higher is beginning to weaken. The order book depth imbalance is 13.31%, with sell orders noticeably sparse, making this structure prone to quick profit-taking.

Currently, chasing long positions directly offers a very poor risk-reward ratio; better to miss the opportunity than to make a mistake. Aggressive traders can wait for a decent pullback, using the secondary thrust after market cooling.

🎯Direction: Pullback to go long (place orders)

⚡Entry/Order placement: Lurk near the lower boundary of 0.0977 - 0.1464, specifically watch the 0.1000-0.1050 area.

🛑Stop loss: 0.0906

🚀Target 1: 0.1470

🚀Target 2: 0.1476

🛡️Trade management: - Execute strategy: After the order is filled, if the price rebounds smoothly to 0.1470, reduce half of the position and move the stop loss to the cost basis. The remaining position targets 0.1476. If the price does not rebound and directly falls back into the entry zone, exit decisively.

Funding rate is as high as 0.125%, making long position costs not low, but the 1H and 4H MACD are still expanding strongly, and trend inertia remains. The key is whether the buy orders below can quickly absorb during the first deep correction. Stable open interest indicates that chips have not been loosened on a large scale, providing a basis for rebound after the pullback. To target this kind of market, patience and precise entry points are essential; do not enter in the frenzy, only pull the trigger after market cools down.

Check real-time market 👇 $ON
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