【$ONT Signal】Short squeeze in progress, buy on dip

$ONT After a violent surge on the 1H timeframe, the price has broken out of the upper Bollinger Band, RSI has soared to 79, indicating short-term overbought conditions. However, the 4H MACD has a bullish crossover that continues to widen, and buying momentum remains strong. Negative funding rate of -0.16% combined with stable open interest suggests persistent short squeezing.

🎯Direction: Long

⚡Entry/Order: Accumulate in the 0.0682 - 0.0699 range

🛑Stop Loss: 0.0650

🚀Target 1: 0.0897

🚀Target 2: 0.0996

🛡️Trade Management:
- Execution Strategy: After reaching the first target, reduce half of the position, and move the remaining stop loss up to the entry price. If the price fails to stay above 0.082 and falls back, consider exiting early.

Order book shows heavy orders between 0.081 and 0.0801, indicating clear support from buy orders. Although the 1H timeframe shows overbought signals, the 4H trend remains intact, and such divergence is common in short squeeze scenarios. The current risk-reward ratio exceeds 4, making a retracement a good opportunity to bet on the continuation of the main upward wave. Below 0.068 is a dense area of previous breakout volume and a strong support level at the 1H EMA50, increasing the probability of successful bounce.

Check real-time market 👇 $ONT
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