ON/USDT (1H) Trade Plan

$ON ‌#EventContractsLaunch
ON remains in a strong bullish trend, supported by higher highs, higher lows, and price trading above all major moving averages. However, after a nearly 48% daily rally, the market may see short-term consolidation before the next move.
Technical Analysis
Trend: Strong Bullish
Moving Averages: MA5 > MA10 > MA30 and EMA5 > EMA10 > EMA30, confirming a healthy uptrend.
MACD: Bullish crossover remains intact, though histogram momentum is slowing.
KDJ: Near overbought, suggesting a pullback is possible before another leg higher.
Key Levels
Resistance
0.1800
0.1867 (recent high)
0.1950–0.2000
Support
0.1650
0.1580
0.1500 (major support)
Long Strategy (Preferred)
Buy on Pullback
Entry: 0.1650–0.1690
Breakout Entry
Buy only if a 1-hour candle closes above 0.1870 with strong volume.
Targets
TP1: 0.1800
TP2: 0.1870
TP3: 0.1950–0.2000
Stop Loss
0.1570
Short Strategy
Only consider a short position if the price closes below 0.1580 on the 1H timeframe.
Targets: 0.1500 → 0.1420
Stop Loss: 0.1660
Risk Management ($150 Capital)
Risk no more than 2% of capital (about $3) on one trade.
Take profits in stages:
40% at TP1
30% at TP2
30% at TP3
Move the stop loss to breakeven after TP1 is reached.
Verdict
The overall bias remains bullish, and long positions are favored while the price stays above 0.1650. Avoid chasing the recent rally. A pullback into support or a confirmed breakout above 0.1870 offers the best risk-to-reward opportunity. A successful breakout could open the way toward 0.1950–0.2000.