In "Range Trading", we learn that price does not move in a straight line. After touching resistance levels at 0.2704, the currency entered a phase of natural "cooling" on the (4H) timeframe.
๐ Technical Analysis and Current Outlook $ONDO :
1๏ธโฃ Price Structure: The chart shows a noticeable stability above the key support areas. The RSI indicator returned to neutral levels (43), reducing the intensity of "overbought" and allowing space to build a new price base.
2๏ธโฃ Reading liquidity: Financial flow data (Inflow/Outflow) shows a small outflow of liquidity in the last hours, while large order categories seem balanced, indicating that "whales" are waiting for the next signal without a mass exit.
๐ Expected scenarios (Trading plan):
โPositive scenario: Holding and closing above the 0.2600 level opens the door for a retest of resistance at 0.2704, and breaking it paves the way towards 0.2914.
โNegative scenario: Breaking the support level at 0.2555 could push the price to retest the previous low around the 0.2470 - 0.2419 area.
โโ ๏ธ Disclaimer: This content is for educational purposes and sharing technical views only, and should not be considered investment advice. Trading cryptocurrencies involves high risks, always follow strict risk management.
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Interaction question:
After seeing the chart and the current liquidity.. do you expect a retest of 0.2600 as support, or a break of 0.2704 first? Share your view in the comments! ๐
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