As ONDO navigates a corrective phase, analysts watch key technical levels to determine future direction.
Key Support and Resistance Levels
According to Rose Premium Signals, the ONDO/USDT pair is within a falling wedge pattern on the weekly timespan, often linked to potential reversals. Currently priced at $1.1849 after a -0.63% decline, the support level of $0.8975 aligns with the 0.786 Fibonacci retracement level. Holding this level could trigger a recovery, with potential targets at $1.6412 and $2.1602. A breakout above the resistance level of $1.1663 could signal a trend shift.
Technical Indicators and Market Sentiment
AltWolf's analysis shows ONDO/USDT remains in a bearish trend, with the 200-day EMA at $1.1383 posing resistance. Without significant trading volume, any recovery attempts might be short-lived. Market participants closely watch support levels to see if buyers can take control or if the downward trend continues.
The next few sessions will determine if ONDO can reverse its downtrend, making current levels critically important.
