$OG HOLDING STRONG – BREAKOUT IN SIGHT OR FALSE HOPE?
$OG is currently trading at $5.342, up +5.61%, after bouncing from the $4.83 low and briefly tapping a 24h high at $5.56. Price action shows a bullish recovery with consolidation just below resistance, indicating a potential continuation pattern.
Key Levels to Watch:
• Resistance Zone: $5.38 – $5.45
A breakout above this zone could lead to a renewed rally.
• Support Zone: $5.28 – $5.31
If this level breaks, a short-term correction could follow.
Trade Setup – Momentum Gathering for the Next Move:
Bullish Scenario:
If price breaks above $5.38 with volume confirmation, look for targets:
• TP1: $5.45
• TP2: $5.62 (24h high retest)
Bearish Scenario:
A breakdown below $5.28 may trigger a pullback toward:
• TP1: $5.18
• TP2: $5.05
Stop-Loss Placement:
• Long Position: SL below $5.28
• Short Position: SL above $5.45
$OG has strong short-term momentum. A break above $5.38 could fuel another leg higher. However, bulls must defend $5.28 to avoid slipping back into bearish pressure. Watch the breakout zone closely.