$ON Signal | More rebounds after pullbacks: 1H retracement meets buy-side support, momentum still holds on 4H

$ON Price is trading above the 4H Bollinger middle band at 0.1893. After a sharp drop from 0.3687 to 0.2858, it halted the decline. The 1H MACD formed a death cross, but RSI 54.2 hasn’t broken below 50, and sell-side pressure has dropped sharply. The order-book Bid/Ask depth ratio is 2.34; buy orders are densely placed around 0.284. The funding rate is 0.0319% (on the high side) but it hasn’t triggered panic.

🎯Direction: Long

⚡Entry/Orders: 0.2849 - 0.2858

🛑Stop-loss: 0.2829

🚀Target 1: 0.2901

🚀Target 2: 0.2922

🛡️Trade management:
- Execution plan: After reaching Target 1, reduce position size by 50%, and move the stop-loss up to break-even. If the price falls back to the entry level, automatically exit to protect principal.

Depth rationale: 1H pullback with reduced volume; the 4H uptrend continuation structure hasn’t been broken. Although the MACD histogram is contracting, it remains above the zero line. The buy support near 0.284 is strong enough to absorb near-term sell pressure. The risk-reward ratio is acceptable, and the stop-loss is set tightly near the recent low.
Check real-time market data 👇 $ON
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