Cryptocurrency ONDO gains attention after surpassing a significant price barrier. Analysts believe the price could increase by 30-40% owing to strong technical indicators.
ONDO Price Chart Analysis
The chart analysis shows ONDO's consistent upward trend since early December, marked by higher lows supported by a rising trendline. Recent price movements formed a symmetrical triangle, a signal for potential breakouts, which ONDO successfully achieved, confirming its bullish trajectory. Projections suggest a price target between $2.8 and $3.0, indicating a 30-40% increase from the breakout at around $2.0.
Support and Resistance Levels
ONDO's price movements are supported by two key levels. The ascending trendline provides reliable dynamic support, with strong buying interest at each dip. A horizontal support zone has formed around $1.95. On the resistance front, $2.6 appears as an interim barrier, with primary resistance near $2.8, representing the upper limit of the anticipated target range.
Trader Mario’s Tweet Reinforces Bullish Outlook
Crypto analyst Trader Mario noted ONDO's strength in a tweet, emphasizing its outperformance against Bitcoin. He highlighted that ONDO’s price has held 'very strongly' and confirmed a breakout on lower time frames, projecting a potential 30-40% rally, aligning with technical chart analysis.
In conclusion, the cryptocurrency ONDO demonstrates a confident rise supported by technical indicators and positive analyst expectations. Investors might expect the continuation of the positive trend.
