The ONDO token continues to attract attention from analysts discussing its potential and pricing levels. This article reviews different expert opinions on the near-term price movements.
Bullish Case Points ONDO Price to $2.80
Crypto analyst Ali Martinez highlights the formation of a rising channel on ONDO's chart, suggesting that the price will continue to increase. He notes that the recent bounce occurred near the lower boundary of the channel and has already surpassed the key resistance level at $1.05. If the bulls maintain control, the first target could be between $1.40 and $1.50, followed by a rise to $1.70–$1.90, before potentially reaching the upper channel boundary at $2.80.
A Cautious View On ONDO Suggests One More Dip
Conversely, a more cautious approach to ONDO's analysis is presented by MoreCryptoOnline, who interprets the current price movements through the lens of Elliott Wave Theory. He believes we are currently in Wave 4, and the current rise could represent only the B-wave before a C-wave drop occurs. He emphasizes the importance of Fibonacci levels and the current price near the 23.6% retracement. If it cannot hold above $1.04, this could confirm a bearish scenario.
Key Levels to Watch for ONDO Price
For traders at this stage, it is crucial to monitor the price range of $1.04–$1.10. A clean move above $1.10 could pave the way for a larger rally. Conversely, a breakdown below this level could confirm the C-wave, leading to a decline towards lower support levels. Both analyses highlight the potential for significant market movements but in different directions, making the outcome dependent on ONDO's behavior within the key zone in the coming days.
The analysis of ONDO's current trends and price levels indicates that the market remains uncertain. Traders should closely monitor developments around key levels to determine potential price movement vectors.
