📊 ON/USDT Analysis: Bullish Momentum Strengthens, but Resistance Still Remains a Challenge

ON is drawing market attention again after recording an increase of nearly 50% in 24 hours. On the 1-hour chart, the price moved from a consolidation area and successfully broke through an important resistance to reach $0,19812, before experiencing a slight pullback to around $0,19012. This surge indicates rising buy interest and the return of positive momentum after a period of relatively flat movement.
From a technical perspective, the price is still above the SuperTrend, suggesting the short-term trend remains bullish. MACD also shows the MACD line above the signal line with a positive histogram that continues to grow, indicating that buying pressure is still dominating. However, the emergence of high volatility after the quick rally is a sign that some traders have started taking profits.
The $0,18–$0,19 area is now the main support that needs to be maintained. As long as the price holds above that zone with stable volume, the opportunity to retest resistance around $0,20–$0,21 remains open. Conversely, if that support is broken, a correction toward the previous consolidation area could be a scenario that traders should be wary of.
For now, waiting for confirmation of the next direction is wiser than chasing the price after a sharp rise.
Discipline in risk management remains an important factor amid market volatility.
$ON ‌ ‌
#ON #Layer2 #CryptoAnalysis #Trading #Dyor