Popular analyst CryptoBullet has drawn attention to Ondo Finance’s token (ONDO) on X (formerly Twitter). He confidently announced, “$ONDO NEW ATH 🚀 You’re welcome 😘,” implying a major price surge and a new all-time high (ATH).
Alongside the tweet, a technical analysis chart suggested a structured approach to understanding the token’s price trajectory. This article explores the chart’s details, including price zones, key levels, and potential outcomes.
What you'll learn 👉
ONDO Price Strong Bullish Momentum Leads to ATH
The price of ONDO has demonstrated a clear bullish trend, beginning with significant accumulation in the identified “Buy Zone.” This area, near the 0.00 Fibonacci level, represents a consolidation phase where the price showed limited volatility before rallying. The bullish breakout from this zone marked the start of an aggressive upward trend, characterized by consecutive higher highs and higher lows.
The price surge continued until it reached the “Take Profit Zone,” defined at the 1.618 Fibonacci extension level. Historically, this level has acted as a natural resistance for assets experiencing strong upward momentum. Upon hitting the ATH, ONDO’s price faced selling pressure, leading to a corrective phase. This correction is seen as a common behavior in markets as traders take profits after extended rallies.
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Key Levels Highlight Future Price Movement
The chart highlights crucial levels that guide traders in anticipating ONDO’s next moves. The “Take Profit Zone” was a target for those profiting from the rise, while the “Buy Zone” denoted the token’s first accumulation phase. During the correction phase, Fibonacci retracement levels like 0.618 and 0.786 have been recognised as possible support areas.
The token’s price has retraced into these Fibonacci levels, suggesting possible stabilization before another upward move. Failure to hold these supports, however, could lead to a deeper retracement.
CryptoBullet’s tweet reflects confidence in ONDO’s performance, particularly after the token achieved a new ATH. While the tweet does not include specific details, its tone suggests a successful trading strategy and awareness of the price’s trajectory. This aligns with the chart analysis, which shows the token respecting key Fibonacci levels.
Future Outlook for Traders
The technical analysis indicates that if ONDO’s price maintains support at critical Fibonacci retracement levels, it may recover and challenge previous highs. Conversely, a failure to hold these levels could suggest a continuation of the bearish correction. Traders are advised to watch the identified zones closely to anticipate potential price movements.
As ONDO garners attention within the crypto community, the coming weeks will reveal whether it can sustain its bullish momentum or face extended consolidation.
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