ONDO is in the process of retesting a key support zone, which may signal potential growth in the future. Analysis shows that ONDO's current dynamics align with the overall strengthening of the cryptocurrency market.
ONDO Retests Key Horizontal Support Zone
According to Alpha Crypto Signal, ONDO is back at a key horizontal support zone on the daily chart. This area, marked between $0.86 and $0.90, has acted as a major level in the past. It is crucial for ONDO to remain above this zone to preserve its bullish structure. A bounce from this area is anticipated, especially with Bitcoin showing strength across the market.
ONDO Builds Strength After Exiting Descending Channel
The ONDO/USDT pair has broken out of a descending channel that extended from January to late April 2025. The recent breakout and consolidation above this pattern indicate a shift in market structure. This move is viewed as a potential trend reversal. Current price action above the 9 EMA and 50 SMA signals bullish momentum.
BTC Momentum May Lead ONDO Higher
Alpha Crypto Signal highlights that ONDO’s next move depends partly on Bitcoin’s direction. If BTC maintains its upward trajectory, ONDO is likely to follow. However, a drop below the $0.89 level would nullify the bullish setup.
ONDO is at a key support level, and its future movements will depend on overall market sentiment, particularly Bitcoin's behavior. Traders should closely watch price levels to determine the potential for further growth.
