Key Takeaways
- Critical Support Held: ONDO found strong footing near the 0.618 Fibonacci retracement level at $1.1777, signaling a potential trend reversal.
- Breakout Potential: A decisive move above the descending trendline resistance near $1.36 could confirm bullish momentum.
- Technical Targets: Upside projections include $1.3280 (1.272 Fib extension) and $1.4586 (2.0 Fib extension).
ONDO Price Analysis: Bullish Signals Emerge
Recent price action suggests ONDO is completing a corrective phase, with the 4-hour chart revealing:
- A completed five-wave impulse followed by a WXY correction from $2.14 to $1.18.
- Strong demand zone support between $1.15–$1.20, aligning with the 0.618 Fibonacci level.
- RSI indicating oversold conditions, supporting a potential rebound.
The descending trendline resistance near $1.36 remains pivotal. A breakout here could propel ONDO toward:
- $1.3614 (0.5 Fib retracement)
- $1.5451 (0.382 Fib retracement)
👉 Discover how ONDO compares to top altcoins
Hourly Chart: Impulse Wave Formation
The 1-hour chart shows an emerging five-wave impulsive structure:
- Wave (i): Initial rally from $1.18 to $1.25.
- Wave (ii): Shallow pullback with potential support at $1.1973.
- Wave (iii): Anticipated breakout targeting $1.3280–$1.4586 (Fib extensions).
Failure Scenario: A drop below $1.1777 invalidates the bullish setup, suggesting further consolidation.
Key Levels to Watch
| Resistance | Support |
|----------------------|-----------------------|
| $1.3280 (1.0 Fib) | $1.1973 (Wave ii) |
| $1.3614 (0.5 Fib) | $1.1777 (0.618 Fib) |
| $1.4586 (2.0 Fib) | $1.15 (Demand Zone) |
FAQ: ONDO Price Outlook
What drives ONDO’s current bullish momentum?
The combination of oversold RSI conditions, Fibonacci support, and a potential impulsive wave structure suggests renewed buyer interest.
How critical is the $1.36 resistance level?
A breakout above $1.36 would confirm the reversal, while rejection could delay upward momentum.
What’s the worst-case scenario for ONDO?
Losing $1.15 support may trigger a deeper correction toward $1.00.
👉 Explore trading strategies for ONDO
Disclaimer: This analysis is for informational purposes only. Cryptocurrency investments are volatile; conduct independent research before trading.
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