ONDO trades in a tight range, testing critical $0.7550 support as bears threaten a breakdown.
Weekly charts show ONDO holds a bullish channel, with past rebounds pushing prices toward $2.30+.
Momentum near neutral, ONDO’s next move hinges on support hold or break for a shift toward $3.00.
ONDO price action has narrowed into a pivotal zone, with traders watching for a potential breakout or breakdown. The asset’s reaction at this level may dictate its next directional move amid a strong technical structure.
Range Behavior Tightens as ONDO Retests Do-or-Die Support
ONDO has moved within a horizontal range for nearly three months, bouncing between well-defined support and resistance levels. The chart shows consistent reactions at $0.7550 support and $0.9450–$0.9500 resistance. These zones have guided price direction with visible rhythm and structure.
Tracking this consolidation, Sjuul from AltCryptoGems explained that ONDO recently formed a lower high and lower low. According to Sjuul, this shift signals a compromised structure and increased bearish risk. He emphasized that $0.7550 is a critical zone, where buyers have previously stepped in.
Source: Post on X
The chart features five rounded formations, three tops and two bottoms, marking recurring highs and lows. His analysis shows each resistance test near $0.9500 met heavy selling pressure. In contrast, each pullback found demand at the lower boundary.
Sjuul also pointed out that price has respected this range without deviation. The symmetrical structure reveals strong technical control. If ONDO closes below $0.7550, he warned of increased downside risk and bearish momentum building beneath the range.
Weekly Chart Suggests Ongoing Bullish Structure
While the short-term range remains intact, the weekly chart reflects a broader bullish pattern. Price continues to trade inside a long-term ascending channel, forming consistent higher lows since mid-2023.
Providing a comparative analysis, Rendoshi Tokamoto noted that ONDO currently trades near $0.825, just above channel support. He explained that previous rebounds from this line led to rallies toward $2.30 and beyond. The most recent bounce in May followed a similar curve formation.
Source: Post on X
Rendoshi added that the RSI sits near 45, indicating neutral strength. This reading aligns with previous reversal points on the weekly timeframe. He also projects a possible move toward the $3.00 zone if momentum returns.
This chart shows that each wedge breakout within the channel produced strong rallies. Price has not deviated from the green upward trendline, which still guides market behavior. Analysts are cautious but constructive as ONDO trades near a key decision point. Price action remains technically bullish while holding support. Keywords: ONDO, ONDO price, ONDO technical analysis, ONDO support, ONDO bullish trend, ONDO channel, ONDO resistance.
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