Analysts note that the cryptocurrency ONDO continues to maintain a bullish market trend despite the current correction. Let's explore how this affects its price and potential future movements.
ONDO’s Current Market Structure
ONDO currently exhibits a bullish market structure, forming a clear pattern of accumulation, breakout, and potential continuation. Analyst Alex Clay highlighted that the price remains above a critical support level. This structure suggests a continuation of the rally if support is maintained.
ONDO’s Price History and Support Levels
ONDO's upward movement showed strong buying pressure, reinforcing the bullish outlook. After peaking above $2.00, the cryptocurrency entered a correction phase in January 2025. The support level is now in the $1.10 – $1.30 range. Despite briefly wicking below this zone, ONDO quickly rebounded, indicating a potential continuation of the uptrend.
ONDO’s Bullish vs. Bearish Scenarios
ONDO's current uptrend relies on its ability to stay above $1.10 – $1.30. A successful breakout could target new levels around $1.80 – $2.00. However, a sustained drop below $1.10 could weaken the bullish outlook, possibly leading to a deeper correction.
ONDO remains in a strong technical position, and further consolidation above key levels could lead to new price targets in the coming months.
