- Ondo’s price surged after breaking key resistance, signaling potential for further gains, with targets near $1.40 based on technical patterns.
- The breakout above the $1 resistance level has been supported by increased volume, indicating genuine market interest and strengthening the bullish trend.
- Strong technical indicators, including the MACD crossover, point toward sustained upward momentum, with traders eyeing $1.20 and $1.50 resistance levels next.
Ondo ($ONDO) is showing bullish signs after breaking above long-standing technical resistance. Current momentum supports the view of a potential trend reversal and further price appreciation for the token.
Support Line Holds Firm Amid Breakout
$ONDO has consistently bounced off a rising support line that was established early this year. Each time the price reached this level, it triggered renewed buying and a move toward descending resistance. According to Merlijn The Trader, these repetitive patterns formed a base for traders to anticipate breakouts. Past occurrences in June, November, and now April, all followed this setup with strong upward moves.
The current breakout was marked by a bullish candle around the $0.90 level and has driven the price above psychological resistance at $1.00. Traders consider this a reliable pattern, reinforced by volume increases during each breakout. This suggests authentic market interest rather than speculative movement. The ascending support line remains critical for maintaining structure and guiding future entries.
$ONDO Bullish Trend Confirmed by Technical Indicators
The price movement of $ONDO has broken through a descending channel that had been active since late 2024. This breakout marks a possible end to the prior bearish trend. Confirmation came as $ONDO closed above the 50-day Exponential Moving Average (EMA), now at $0.9039, and continued rising. The trading price of ONDO stands at $0.9943 as of writing, representing a 19.30% increase over the past week.
Technical momentum indicators such as the MACD also support the bullish scenario. The MACD line has crossed above the signal line, with both in positive territory. This formation is viewed by traders as a potential continuation signal. Momentum is now favoring a move toward higher resistance levels.
$ONDO Breakout Target Levels in Sight
Merlijn The Trader suggests that the pattern could open price targets near $1.40, should current momentum hold. Additional resistance levels are expected at $1.20 and $1.50. Sustaining price action above $1.00 is critical for confidence. Volume and closing prices in the coming sessions will be closely watched.
A possible retest of the $0.90–$0.93 zone may occur before continuation. Failure to hold that range could mean a return to the previous channel. However, for now, the chart structure and price movement suggest a clear bullish shift in $ONDO.
