ONDO remains above the key $0.8755–$0.9044 support zone, signaling buyer interest and potential accumulation.
The asset continues to trade within a descending channel, with any breakout likely defining the next major move.
Low volatility and broader crypto weakness suggest external catalysts may dictate ONDO's next direction.
ONDO's price dynamics have come into focus for market participants as it consolidates above a key support level. Despite recent downside pressure, the asset remains range-bound within a declining channel. Currently, ONDO is trading at $0.9011, down 0.3% in the last 24 hours. Market participants are carefully watching the current zone for signs of either breakdown or extension.
ONDO Holds Accumulation Zone Within Descending Channel
A visible demand zone between $0.8755 and $0.9044 is acting as a major pivot range. Price has tested this band multiple times since early May without a confirmed breakdown, suggesting continued interest from buyers. Analysts view this level as a potential accumulation range. If ONDO maintains its position above this range, it may establish a base for a possible upside move.
https://twitter.com/Crypto_Scient/status/1932680748311752957
The broader chart shows ONDO moving within a clear descending channel since its March peak. Previous market cycles saw similar corrections before recovery attempts. With the current structure maintaining its form, ONDO’s next move could depend on whether price breaks through the upper resistance line or falls back toward the lower boundary. For now, volatility remains contained within predictable parameters.
ONDO Awaits Breakout Near Key Support
While the price fluctuation has narrowed in recent sessions, the setup remains vulnerable to external catalysts. Broader market sentiment and liquidity inflows could influence a breakout from the current box range. The recent 1.9% decline in ETH valuation and 0.3% dip against BTC further reflect a cautious outlook across crypto pairs.
Traders are advised to monitor how ONDO interacts with the $0.8755 support zone. If this level fails to hold, a return toward $0.80 may follow. On the upside, reclaiming and holding above $0.9044 could shift the short-term trend in favor of buyers. At this stage, ONDO remains technically neutral, hovering within a structure that offers clarity but requires confirmation. Observers will likely await directional cues before adjusting positions.
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