【$ON Signal】Short squeeze continues, dip to go long

$ON 1H timeframe high-level strong consolidation, 4H Bollinger Bands remain widening, price tightly hugging the upper band. RSI 1H 73.89, 4H 83.61, overbought zone shows fatigue, a typical sign of strong short squeeze by funds. Market depth for buy orders is nearly three times that of sell orders, fully exposing the capital support intent.

Price repeatedly tests around 0.148 and stabilizes, bulls actively attack.

⚡Entry: Enter directly near the current price of 0.15481, or place an order at 0.10661 to hide in the depth for a pullback.

🛑Stop loss: 0.09452, a break below this level indicates the short squeeze logic has failed.

🚀Target 1: 0.15556, near the previous high, the first resistance level.

🚀Target 2: 0.15619, the inertial surge level after breaking the previous high.

🛡️Trade management: - Execution strategy: After the price reaches 0.15556, halve the position, and move the remaining stop loss up to the entry price. If the price cannot hold above 0.154 and falls back, consider exiting early.

After the 4-hour MACD forms a golden cross, the histogram continues expanding, indicating strong trend momentum. Although RSI is extremely high, in this deep short squeeze environment, indicator failure is normal; the key is to observe buy depth and whether the price can hold critical support. Current funding rate is 0.0499%, the long side’s cost is still acceptable, not at extreme levels. Open interest remains stable, with no collapse caused by profit-taking. Under this structure, the risk of top guessing is much greater than following the trend.

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