The cryptocurrency market is experiencing a sharp correction, impacting many altcoins, including Ondo (ONDO). Let's explore the current status and similarities with past cycles.
Current State of the Cryptocurrency Market
The cryptocurrency market is facing significant downturns led by Ethereum (ETH), which has dropped from the resistance level of $3,940 to $3,440. This decline represents a 7% drop in a week and has exerted pressure on several altcoins. Ondo (ONDO) is one of those affected, sliding 16% over the past week, reducing its monthly gains to just 13%.
Fractal Analysis of ONDO
On the daily chart, ONDO appears to be forming a nearly identical fractal pattern observed in late 2024. During that period, the token broke out of a descending channel and reclaimed its 200-day moving average (200 MA). This breakout was followed by a brief pullback, building a small base above the 200 MA, which served as a springboard for a 141% rally in the subsequent weeks. In 2025, ONDO has once again broken out of a descending channel and reclaimed the 200 MA, entering a brief corrective phase that mirrors the previous setup.
Prospects for ONDO
The key level to observe is the 200-day moving average at $0.9742. If ONDO can hold or reclaim this area and start pushing higher, it may validate the fractal and ignite another strong upward leg. Should the pattern unfold similarly to its previous breakout, ONDO could rise toward the $2.14 range, potentially delivering over 140% gains from current prices.
The current correction in the cryptocurrency market presents new analysis and prediction opportunities. The situation with ONDO echoes prior growth phases, suggesting a potential renewal of the upward trend.
