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ONG/USDT Technical Analysis Update
Current Price: $0.3694
Change: +14.20%
We are observing a clear pattern forming on the 1D timeframe for the ONG/USDT pair on Binance.
Key Zones to Watch:
1. Support Zone
The support zone around $0.22 - $0.30 has been tested multiple times, showing strong buyer interest and a solid foundation for potential upward momentum.
2. Resistance Zone
The resistance zone between $0.70 - $0.83 has proven challenging to break. This area marks the region where sellers have historically stepped in, preventing further price surges.
Recent Price Action:
The price has rebounded significantly from the support zone, rising by over 14% today. This signals renewed buying interest, potentially driven by market sentiment or fundamentals.
What’s Next?
The chart suggests that ONG/USDT could be heading back toward the resistance zone if the momentum continues. A breakout above $0.83 could pave the way for even higher levels, while a failure to sustain this momentum might see a retest of the support zone.
Key Indicators:
Volume: 24h trading volume is at 73.97M, indicating significant market activity.
Levels to Watch:
Immediate Resistance: $0.50
Key Support: $0.30
Strategy Suggestion:
For Long Positions: Consider entering after confirmation of a breakout above the $0.50-$0.70 range with volume.
For Short Positions: Watch for rejection near the resistance zone and target the support area.
Stay cautious and monitor price action closely, as market conditions can shift rapidly.
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