ONDO is back on traders watchlists after breaking out of a months-long downtrend. A tweet from WorldOfCharts noted that the move has already delivered over 12% gains since the breakout.
Their chart shows ONDO price pushing from around $0.78 to $0.87, and there’s talk that the token could be heading toward $1.13 if momentum keeps up.
The chart shows a textbook breakout from a falling channel, with the price making a clean move above resistance.
WorldOfCharts says ONDO price is now “moving towards targets,” and from the look of it, that target is a potential 45% rally from the breakout point.
ONDO Price Sees Clean Breakout Following Prolonged Downtrend
ONDO price had been stuck inside a downward-sloping channel from early May through late June. Each bounce hit resistance a bit lower than the last, dropping from $1.05 in May to $0.88 by the end of June.
On the flip side, every dip found support near a consistent trendline, with the last major bounce coming from just above $0.65 in mid-June.
What kept things interesting was the horizontal zone between $0.75 and $0.78. Buyers stepped in every time the price touched this range, turning it into a solid support area.
Then, as June came to a close, the candles started to push higher within the channel, and on July 8, ONDO finally broke through that upper trendline.
The breakout happened right at the intersection of falling resistance and horizontal support, a spot where traders often expect a reaction. That’s exactly what played out, and now ONDO price is climbing steadily.
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Next Levels to Watch
There’s a clear target on the chart around $1.13. That level comes from measuring the height of the channel and projecting it upward from the breakout.
But before getting there, ONDO price still needs to push through $0.90 and the key psychological level at $1.00.
If price dips, the breakout zone around $0.82 to $0.84 should act as support. A bigger drop toward $0.78 would raise questions about whether the breakout can hold.
Falling back into the old channel would be a red flag, possibly pointing toward a retest of the June lows near $0.65.
For now, ONDO price looks above the breakout zone, and if that continues, the rally toward $1.13 could stay on track.
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