ONDO token is showing bullish momentum, with analysts predicting a potential surge past its previous ATH. The token has been climbing steadily, with technical indicators and market sentiment signaling further upside. Key resistance levels remain, but experts suggest that a breakout could push ONDO to new highs.
According to Solberg Invest (@SolbergInvest), ONDO is in a strong uptrend and currently faces key resistance at the 1.618 Fibonacci extension level of $2.08.
The analyst highlights that this level is historically key, often leading to either consolidation or a breakout. If ONDO surpasses this resistance, the next logical target is $2.79, aligning with Fibonacci projections. The tweet also notes that ONDO at current levels, has bulls aiming for higher levels.
The market structure remains bullish, with multiple green weekly candles indicating steady buying pressure. ONDO has already broken out of a previous downward channel, marking a shift toward higher highs. The price remains above crucial support levels, reinforcing the positive outlook.
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ONDO’s Technical Outlook Ahead of February 6th Summit
Kapoor Kshitiz (@kshitizkapoor_) points out that ONDO is experiencing a breakout, with key support and resistance levels coming into play.
$ONDO Technical Outlook Ahead of February 6th Summit:
— Kapoor Kshitiz (@kshitizkapoor_) January 30, 2025
The price is currently experiencing a breakout, and a retest at key support levels could provide an optimal entry for long positions. Key levels to observe:
Resistance Zone: $1.62
Support Levels:
• $1.49: Potential… pic.twitter.com/nryzRU3DiO
The analyst identifies resistance at $1.62, while support levels at $1.49, $1.29, and $1.13 could offer potential long entry points. A confirmation of support at these levels would strengthen the case for further price appreciation.
With the ONDO Summit approaching on February 6, traders are closely monitoring market movements. Historically, events tied to projects with strong fundamentals often drive price volatility and potential upside.
Read also: XRP Price Prediction for January 31
Market Sentiment and ONDO’s Potential Binance Listing
The broader sentiment around ONDO remains positive, particularly due to its status as the fifth-largest token in the real-world asset (RWA) category.
Altcoin Hunter (@Altcoin1hunter) notes ONDO’s partnerships with industry giants like BlackRock, adding to its credibility. Speculation about a potential ONDO listing on Binance is also growing, which could provide a catalyst for higher prices.
Ondo, the #5 token by mcap in the #RWA category, has partnerships with industry giants like BlackRock.
— Altcoin hunter (@Altcoin1hunter) January 30, 2025
Binance can't ignore such a top utility coin for long.
The $ONDO spot listing on Binance might be coming sooner than expected! pic.twitter.com/rYmHuHklQ1
At publication, ONDO is trading at approximately $1.55, reflecting a 2.75% decline over the past day but a 10.82% gain over the past week, based on CoinGecko data.
With an ATH of $2.14 reached on December 16, 2024, ONDO is about 27% below its peak. Given strong momentum and liquidity, it could easily surpass previous highs if buying pressure continues.
Analysts agree that ONDO remains in a bullish structure, with $2.08 acting as the next key barrier. A breakout above this level, especially on a weekly close, would set the stage for a rally toward its previous ATH which could set the stage for a new one at $2.79.
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