- Ondo is coiling up in a perfect example of a symmetrical triangle on the daily chart with volatility quickly being squeezed down towards the break point.
- The price is above both the 9 EMA and 50 SMA and the two averages are flat indicating that traders are not still sure what the truth of the matter is.
- A move beyond $1.05 can lead the way to $1.20-$1.25, whereas any decline below the 95-mark can usher in retests of $0.85-$0.80..
Ondo (ONDO) is currently consolidating within a symmetrical triangle on the daily chart, signaling an approaching decisive breakout phase.
Symmetrical Triangle and Price Compression
Alpha Crypto Signal shared that $ONDO is forming a textbook symmetrical triangle, a well-known consolidation pattern in technical analysis. The price has been coiling between lower highs and higher lows, tightening toward the apex of the structure. This movement reflects compression in volatility, often preceding strong directional expansion.
The daily chart shows Ondo trading at $0.9976 with a 24hr volume of $137,050,937. The daily charts with the 9 EMA at $0.976 and the 50 SMA at $0.963 are both flat indicating indecision in the market. Price is sitting just above the 9 EMA and 50 SMA suggesting traders want to make sure before entering big positions.
Volume Tapering and Key Support Levels
Volume has been tapering as the triangle narrows, aligning with typical consolidation behavior before a breakout. Such volume contraction is widely observed as energy building in the market ahead of a major move.
The key downside level sits at $0.95. A breakdown below this zone would weaken the bullish setup and expose $0.85 to $0.80 as possible retest areas. Buyers may attempt to defend strongly in this range to maintain structural support.
Breakout Scenarios and Market Bias
According to Alpha Crypto Signal, a breakout above $1.05 would likely trigger bullish continuation. This move could open a path toward $1.20–$1.25, and potentially higher if momentum accelerates. Traders are closely monitoring this threshold as the first confirmation level for upward expansion.
The current bias remains neutral-to-bullish while price holds above the triangle support and moving averages. With volatility compression approaching its final stages, ONDO is positioned for expansion soon. Market participants view this structure as decision mode, where the next move will determine the broader direction.
