The current technical analysis of Ondo shows promising results after a consolidation period. Key indicators suggest a bullish trend.
Overview of Ondo's Technical Analysis
The price of Ondo has stabilized around $0.965 after a 21% increase over the past week. A 46% rise in trading volumes indicates renewed buyer interest. Trends across all time frames remain bullish.
Key Levels and Market Structure
Ondo holds above key support levels at $0.97, $0.80, and $0.66. The recent breakout at $0.95 indicates strengthened bullish sentiment. Major resistance levels are at $1.13, $1.24, and $1.66.
Price Forecasts and Scenarios
Price scenarios suggest the potential for upward movement to $1.13 and beyond, provided it stays above $0.88. However, a break below $0.88 could lead to declines as low as $0.66.
Ondo shows signs of recovery with support from a strong technical structure. Monitoring price reactions at key levels is essential in the face of market uncertainty.
