The ONDO token ($ONDO) is demonstrating strong signs of readiness for a surge after 190 days of consolidation, drawing analysts' attention.
A Long Base on the Weekly Chart
The weekly chart shows that ONDO has spent over half a year locked in a tight range. Price oscillated between a support zone near $0.58 and resistance just above $1.08–$1.10. During this period, the market formed a head-and-shoulders bottom pattern, which is a classic reversal signal. The two 'shoulders' appear as rounded lows on either side of a deeper central trough.
Now, ONDO is pressing hard against the neckline of this formation – the horizontal resistance line at $1.08–$1.10. A close above this level would complete the pattern and signal the start of a new trend.
What to Watch Next
For bulls, the key is a clean breakout above $1.10 with sustained volume. If that happens, the next major resistance could sit near $1.50–$1.60, with a longer-term target around $2.00 based on historical ranges.
If ONDO fails to hold above the neckline, it could slip back toward the mid-range near $0.85 or even retest the base at $0.58. But for now, buyers have the upper hand.
Bottom Line
Crypto Kindle sums it up clearly:
> 'Confirmation = a clean break of the neckline with volume.'
With a strong weekly candle and a well-formed head-and-shoulders bottom, ONDO is on the cusp of a big trend reversal. Traders will watch the coming weekly close closely. A confirmed breakout could turn months of quiet trading into a new bullish phase and open the door to much higher prices.
ONDO ($ONDO) continues to show potential for a breakout, and further price movements will be determined by market reaction to key resistance.
