Recent sessions reveal mixed signals for ONDO's price, creating uncertainty in market movements. However, indicators show possible trend changes.
TD Sequential Indicator Hints at Reversal
ONDO has experienced a downtrend since the start of the week. The TD Sequential indicator on the 12-hour chart shows several buy signals, hinting at a potential trend reversal. Currently, ONDO is trading at 0.7572 USDT, down by 4.20% compared to previous levels.
Accumulation Phase and Breakout Potential
On the 4-hour chart, ONDO/USDT is consolidating between $0.75 and $0.82, indicating an accumulation phase that suggests potential for a breakout. Breaking above $0.82 could initiate an uptrend, with key targets at $0.95-$1.00, $1.20, and $1.50+.
Outlook: Cautious Optimism
Despite ongoing selling pressure, there are signs of a potential trend reversal. Indicators and the accumulation phase suggest growth potential, but strong resistance levels must be cleared. A successful breakout above $0.82 could lead to a rise to $1.00 and beyond, while failure to hold support might result in a decline towards $0.5688.
ONDO faces risks and opportunities amid the TD Sequential indicator and accumulation phase. Investors should remain vigilant and monitor further market developments.
