The price of the ONDO token continues to strengthen, rising towards a level that has previously served as both support and resistance. This growth has caught the attention of traders.
ONDO Price Moves Into Familiar Territory
Currently, ONDO is trading at $0.8172, reflecting nearly a 2% increase for the day. The ONDO chart indicates that the price is moving into a zone between $0.81 and $0.85, an area known to traders. This range has previously played the role of both support and resistance. If the price can break above and hold this level, it could open the possibility of a rise towards a target of $3.
ONDO Trendlines Point to a Possible Reversal
Looking at the ONDO chart structure, a potential turnaround may be on the horizon. A steep descending trendline from the previous downtrend has already been broken. In its place, a rising trendline is forming beneath the current price, indicating that ONDO is printing higher lows. This typically signals accumulation, with buyers stepping in more aggressively each time the price dips. However, to truly confirm a reversal, ONDO needs to break through the resistance zone and prove that bulls are in control.
Traders Watching the $3 Target
Traders have noted that the path to $3 could open if ONDO breaks and holds above the current range. The critical level to reclaim and turn into support is still set at $0.85. If successful, traders may start eyeing higher zones like $1.10 and $1.50. Until then, all eyes are on this resistance zone, as future price movements are poised to be significant.
In conclusion, the ONDO price shows signs of strengthening and trader interest, but to reach specific price targets, overcoming key resistance levels is essential.
