Market Analysis – 7 May 2025
ONDO Technical Outlook
Current Price: $0.86
Support: $0.80 (critical level)
Resistance/Targets:
Target 1: $1.00
Target 2: $1.14
Structure: Testing key support zone
Analysis: ONDO has been in a sustained downtrend for the past 1.5 weeks but bounced aggressively from $0.829 today, near its $0.80–$0.81 support. This level remains the lifeline — as long as ONDO holds above $0.80 on a closing basis for 2 consecutive days, there is potential for a rebound toward $1.00 and $1.14. A breakdown below $0.80 will trigger heavy downside pressure, potentially targeting $0.70 and even $0.50 zones.
Trade Setup:
Entry Zone: $0.81–$0.85
Target 1: $1.00
Target 2: $1.14
Stop Loss: Close below $0.79 (2-day confirmation)
Maker (MKR) Technical Outlook
Current Price: $1,473
Support: $1,000 (key psychological + structural support)
Resistance/Targets:
Target 1: $1,800 (first breakout target)
Long-term: $2,000+ possible if trend reversal confirms
Structure: Rising channel (bearish bias); triple top forming
Analysis: MKR is trading within a rising channel, historically bearish 70% of the time. However, as long as $1,000 holds, there remains bullish potential for a strong move back toward $1,800 (an 80% rally from $1,000). Currently, at $1,473, MKR is mid-range, which is generally considered a no-trade zone. Ideal entries are lower, near support zones.
Trade Setup:
Entry Zone: $1,020–$1,050 (wait for dip toward support)
Target 1: $1,800
Stop Loss: Close below $980 (2-day confirmation)
Summary:
ONDO: Holding critical $0.80 support. Watch for confirmation; upside targets at $1.00 and $1.14 if support holds. Breakdown will turn structure ultra-bearish.
MKR: Safer to wait for a dip toward $1,000 before entering. Upside target at $1,800 offers an attractive 80% potential move if support confirms.