Recent price analysis of ONDO reveals the asset is in a corrective phase yet retains a constructive market structure. The $0.83 level is becoming critical for further price movement.
Current Situation and Support Level
ONDO is currently in a corrective phase after rejecting resistance at $1.19, moving towards the key control level at $0.83. This level aligns with the 0.618 Fibonacci retracement and represents a major support zone.
Double Bottom Structure and Support
The double bottom structure remains valid as long as ONDO holds above the support levels at $0.67. If the asset continues to show strength and establishes higher lows, it may reinforce the bullish trend.
Upside Targets and Market Potential
Should ONDO break above $1.19, this will confirm the double bottom structure and open pathways to higher resistance levels around $1.56. The bullish outlook remains valid as long as the price stays above the $0.67 level.
Per the current analysis, the ONDO asset is poised for potential growth if it retains key support levels. Future movements will depend on the buyers' ability to defend the $0.83 level and break above $1.19.
