$ONDO's price continues to oscillate within support and resistance levels. This article examines the current market conditions, including graphical patterns and indicators.
Bullish Pennant Formation
As of now, $ONDO is trading around $0.94, forming a bullish pennant pattern. The resistance level is around $1.10, and the cryptocurrency has attempted to break above it several times since July. Support at $0.87 has held strong, with the price bouncing back whenever it approaches this level.
Trading Within a Defined Range
Since the beginning of 2025, $ONDO has been moving between $0.70 and $1.10. The lower level around $0.87 serves as a safety net, preventing further price decline, while the upper level around $1.10 acts as a ceiling that keeps pushing the price down. Currently, $ONDO is around $0.95, and the 50-day moving average is located near this price point, adding extra support and resistance. Trading volumes pick up during significant price moves.
Indicators Show Market Balance
Momentum indicators for $ONDO suggest a balanced market. The MACD is near zero, indicating equal buying and selling pressure. The RSI hovers around 49, showing that the token is not overbought or oversold. The market remains cautious, awaiting a clear signal before taking action.
Currently, $ONDO is in a waiting phase with the potential for a breakout. A break above the resistance level at $1.10 could lead to a 20% increase. The market continues to watch for developments.
