ONDO has gained attention following its recent price breakout. The token jumped 6% today, signaling strong market momentum.
ONDO has demonstrated an overall upward trend since October, marked by consistent price increases. However, the market experienced a corrective phase recently, where prices consolidated within a descending channel. This downward movement acted as a temporary pullback before a bullish breakout occurred.
The breakout from the channel suggests a possible reversal to an upward trajectory. Currently, ONDO’s price hovers around $1.39, with signs pointing to further growth. The breakout is supported by bullish candlestick patterns, which often precede stronger upward movements.
What you'll learn 👉
ONDO Key Support and Resistance Levels
The chart identifies critical levels that traders are monitoring. Immediate support is near $1.39, aligning with the breakout point. Below this, $1.32 acts as a safety net, reinforced by the exponential moving average (EMA 9). This EMA is trending upward, adding to the bullish momentum.
Resistance levels to watch include $1.5761 and $1.7481. The first resistance is a previously established pivot point, while the second aligns with a historical ceiling. Breaching these levels could open the door for ONDO’s price to target the $2.0–$3.0 range in the medium term.
Furthermore, the RSI stands at 51.65, indicating neutral territory with a bullish tilt. The RSI’s upward trajectory suggests increasing buying pressure without signaling overbought conditions. Meanwhile, the EMA continues to act as dynamic support, reflecting the overall bullish sentiment in the market.
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Future Projections for ONDO Price
The chart suggests two possible scenarios. In bullish continuation, sustaining above $1.5761 could push the price to $1.7481 and beyond. Conversely, if the price of ONDO falls below $1.39, traders may look for support at $1.32. This downward scenario could lead to further consolidation.
Overall, ONDO’s breakout and today’s price increase highlight the token’s strong potential. However, traders are advised to monitor key levels and market signals for confirmation of the next significant move.
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