ONDO’s price movement has drawn attention as it faces a key demand zone, raising questions about whether bullish momentum will return or if the asset is poised for further decline. Crypto expert Sjuul shared on X that ONDO has experienced a substantial drop and is now trading within a high time frame demand zone. The tweet suggests two possible scenarios: a reclaim of $1.06 to confirm bullish strength or a dip toward the $0.85 support level.
What you'll learn 👉
ONDO Price Trend and Market Structure
The chart analysis indicates that ONDO has been in a downtrend, forming lower highs and lower lows after a strong previous uptrend. This pattern suggests a bearish market structure, with selling pressure dominating the price action. After reaching a local high, the price reversed sharply, leading to a correction that has now brought it into a key demand area.
Despite the current positioning, the market direction remains uncertain as traders await confirmation of a breakout or further downside movement. ONDO price must reclaim $1.06 to indicate strength, while failure to hold support could push the price toward $0.85 or lower.
ONDO Key Support and Resistance Levels to Watch
Two primary levels are shaping ONDO’s price action. Resistance at $1.06 is critical for bulls, as a successful reclaim could mark the beginning of a recovery. A break and hold above this level may shift market sentiment and drive ONDO higher.
On the downside, $0.85 is a strong support point, where the buyers are likely to come in. If this level breaks down, more selling will occur, continuing the downtrend. Price action currently is showing that the market is at a decision point, where the traders are nervously observing these levels to confirm the direction of the next move.
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Market Sentiment and Trading Strategies
The sentiment on ONDO is still mixed, with no direction. The tweet shows a neutral bias, with a focus on traders waiting for a confirmed breakdown or breakout.
A move back to $1.06 would show a possible bullish reversal, and a drop of $0.85 could create additional selling pressure. With the uncertainty, most traders are opting to remain on the sidelines until a clear move has been established.
ONDO’s price is at a turning point, and the traders are watching key levels to determine its direction. The battle between bulls and bears continues, with the $1.06 and $0.85 being the areas of focus. Traders are on tenterhooks, waiting for confirmation before taking their next move.
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