$ONG USDT TECHNICAL ANALYSIS: STRONG SELL-OFF PUSHES PRICE INTO OVERSOLD TERRITORY, REVERSAL SIGNALS FORMING
The $ONG
USDT pair has experienced a sharp decline of nearly 20%, currently trading around $0.12. After reaching a 24h high of $0.1501, the price fell dramatically to a low of $0.0669, reflecting intense market volatility and selling pressure.
š¹ Technical Overview:
Current Price: $0.1200
Resistance Levels: $0.1325 ā $0.1562 ā $0.1745 ā $0.1799
Support Levels: $0.1089 ā $0.0852 ā $0.0669 ā $0.0615
RSI (6): 23.94 ā Deep in Oversold Zone
The RSI indicates that ONG is severely oversold, often a precursor to a technical rebound or price consolidation. Sellers are dominating the short-term momentum, but the asset is approaching strong support zones between $0.09 and $0.07, where buyers may begin accumulating.
š¹ Market Sentiment:
While the trend remains bearish, the deep RSI drop and lower wick formations suggest that selling pressure may be exhausting. A rebound toward $0.13ā$0.15 is possible if the price holds above $0.10. However, failure to maintain this support could extend declines toward $0.07.
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