$ONG

ONG/USD Market Update

The ONG/USD pair is currently priced at $0.3699. Let's analyze the key technical levels and potential trade setups for the coming sessions.

Technical Analysis:

Support: A strong support level is at $0.3550, where price has previously shown buying interest. A bounce from this zone could provide an opportunity for an upward move.

Resistance: The resistance zone is located around $0.3850. If the price breaks above this area, it could signal a bullish trend continuation.

Trade Setup:

Long Entry: If ONG/USD breaks above $0.3850, consider entering a long position with a target at $0.4000. A stop loss can be placed just below the support at $0.3500 to protect against potential downside.

Short Entry: If the price fails to break higher and starts reversing, a short entry near $0.3700 with a target at $0.3550 could be an option. Place your stop loss above $0.3850 to manage risk.

Market Outlook:

The market is currently testing the $0.3699 level, showing consolidation within a defined range. A breakout above or below this level will determine the next major move.

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