- ONDO has broken important resistance points, showing firm bullish strength with potential for continuing to rise.
- The analysts consider ONDO trading between $0.80–$0.90 as the biggest catalyst for a rally to $1.50–$2.00.
- Increasing volume and a bullish breakout formation confirm that ONDO can keep moving upwards if the momentum endorses.
The ONDO/USDT pair has just escaped a downtrend pattern, clearing key resistance levels and showing potential for bullish momentum. Analysts are keenly observing, given historical trends indicating high chances of an extended upward movement.
Market Structure and Accumulation Phase
The asset recently probed significant support around $0.60 to $0.80, an area that has historically been a strong accumulation zone. As Crypto Patel highlights, ONDO is positioned near the 0.786 Fibonacci retracement level, a technical marker typically present in high-probability reversal zones.
Source: Crypto Patel
He noted that the last high-timeframe breakout resulted in a 200% rally, and similar conditions are now present. His analysis indicates that a breakout could drive ONDO toward price targets of $2, $5, and $10.
ONDO’s historical trend suggests that the asset follows a pattern of accumulation, breakout, and rally. Crypto Patel emphasized that a successful breakout above current resistance levels could trigger a rapid price increase, aligning with previous market cycles. Volume analysis further supports this outlook, as recent surges indicate growing market participation and strong buying interest.
Resistance and Breakout Potential
Technical analysis reveals key resistance zones that could determine ONDO’s next move. Market trends show that price action has recently tested and broken out of a descending trendline, signaling a possible shift in momentum.
World Of Charts has provided additional insights, stating that ONDO’s breakout coincided with a key resistance zone between $0.80 and $0.90. He highlighted that this region previously acted as a strong resistance, making it a critical level to watch. His analysis suggests that if ONDO holds above this zone, a bullish continuation toward $1.50–$2.00 is likely.
Source: World Of Charts
Besides, price action confirms an ongoing transition from bearish to bullish market structure. World Of Charts also pointed out that the trendline from the descending channel has now been broken, supporting the argument for further gains. His mid-term outlook anticipates continued momentum, with ONDO targeting a move toward the next major resistance level at $1.10.
If ONDO fails to sustain its breakout, the retracement to the $0.70–$0.75 levels may be observed before trying another breakout. According to him, continuous buying pressure alongside increasing volume shows that the upward momentum is intact. Market participants shall be seeking these levels to confirm whether ONDO sustains its breakout or falls into another consolidation.
