Recent developments in the cryptocurrency market have impacted the ONDO token, which has seen a significant decline recently. However, analysts believe this could pave the way for substantial growth shortly.
Current ONDO Market Situation
The price of ONDO has recently dropped, mirroring the general trend in the cryptocurrency market. However, some believe this could be the start of a positive shift leading to a significant price increase.
Analysis by Cryptogenous
Crypto market analyst Cryptogenous has highlighted an important point: ONDO has hit a critical trendline where reversals typically occur. This level has become support, and a significant increase to the 1.618 Fibonacci is now possible, historically showing a 300% rise.
Investment Prospects
For investors interested in ONDO's movement, two approaches are offered: gradually building positions through dollar-cost averaging or waiting for a confirmed breakout. There's also a suggested exit level if prices fall below $0.59.
The current data suggests potential significant changes in ONDO's price. The overall trend upwards suggests favorable investment opportunities despite temporary downturns.
