ONDO Eyes Breakout Levels Amid Bullish Market Trends

• ONDO is trading in a downtrend wedge, with key support at $0.83–$0.90, showing possible accumulation.
• A breach above the resistance of $1.48741 would indicate a trend reversal, and price targets will be from $2.10 to $2.14522.
• Historical breakouts from declining wedges have triggered strong rallies in line with current market trends and Fibonacci reaction levels.

Market analysts report a strong price movement in ONDO, indicating increasing market traction. The asset has formed a bullish wedge flag, which previously led to a significant price breakout.

Technical Indicators and Market Structure

Lucky, a market analyst highlights historical breakout patterns, referencing the September breakout from a bullish flag that resulted in a substantial price rally.ONDO/USDT is consolidating near the lower support region, suggesting accumulation. Trendlines show consistent rejections at resistance levels, while Fibonacci-based reaction zones align with key support and resistance areas.

The market structure indicates that ONDO is trading within a descending wedge, characterized by lower highs and lower lows, suggesting a potential bullish continuation. The current trading price is around $1.1280, with a possibility of dipping toward $0.8391 before a breakout. Volume data remains unavailable, but price action suggests phases of accumulation and distribution.

Breakout Potential and Future Price Projections

Another analysis of ONDO/USDT from the MEXC exchange presents similar findings. The price has been moving within a descending channel after reaching a peak, forming a bullish wedge.

Historical data shows that previous breakouts from falling wedges have led to strong rallies. The critical support range between $0.80 and $0.90 has experienced repeated price reactions. The lowest marked level, $0.50181, represents a historical support point.

The descending trendline currently defines the resistance structure. A breach above this level could be a sign of trend reversal, with resistance at around $1.48741 being a significant obstacle before it continues further north.

Analysts note that from previous price action, estimates are for a potential range of target between $2.1000 and $2.14522 in the event of a breakout. Traders continue to monitor key levels for confirmation of future market direction.