As of March 25, 2026, ONON (On Holding AG) is in a choppy range state on the monthly chart, with a confidence level of 62%. Key support is at $36.0 and key resistance at $46.0. Monthly pullback to ~$39.59 after a failed bounce under the prior mid-$40s supply; price is sitting just above the rising EMA50 (~$36.37) and SMA50 (~$35.68) with RSI ~46.8 (neutral/weak).
Range continuation: hold the $36 area (EMA50/SMA50 confluence) and mean-revert back toward the mid-$40s; if $46 breaks, next push targets prior supply near the low-$50s. (EW: likely a corrective wave 4/complex correction before a potential wave 5 attempt; Fib: this looks like a ~38.2–50% retrace zone being defended.)
Breakdown: lose $36 support and slide into the low-$30s (prior pivot shelf / deeper Fib retrace). That would keep the post-peak structure bearish-to-neutral and suggest the larger correction is still unfolding (EW: wave C or extended 4).
2+ monthly closes above $46.00 (reclaim/hold above the recent pivot supply zone)
Monthly close below $35.50 (loss of the key mid-$30s base/MA confluence)
Start near the mid-$30s MA/base support; add on a clean breakdown into prior pivot demand; heavy add only at deeper retrace/2023 consolidation zone where risk/reward improves.
Trim into prior distribution/swing-high supply (low-$50s then ~$60); fully close if price reaches new-extension territory above the old highs where upside becomes more ‘multiple-expansion’ than base-driven.
As of March 25, 2026, ONON (On Holding AG) is in a choppy range state on the monthly chart with 62% confidence. Monthly pullback to ~$39.59 after a failed bounce under the prior mid-$40s supply; price is sitting just above the rising EMA50 (~$36.37) and SMA50 (~$35.68) with RSI ~46.8 (neutral/weak).
On the monthly timeframe, ONON has key support at $36.0 and key resistance at $46.0. The most likely scenario (bullish) targets $46.0 and $52.0, with a revert level at $41.5.
ONON (On Holding AG) is currently classified as choppy range on the monthly chart, with 62% confidence. Confirmation requires: 2+ monthly closes above $46.00 (reclaim/hold above the recent pivot supply zone) This would be invalidated by: Monthly close below $35.50 (loss of the key mid-$30s base/MA confluence)
The most likely scenario (bullish) targets $46.0 and $52.0, with a revert level at $41.5. The alternative scenario (bearish) targets $33.0 and $28.0.
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