Based on materials from the portal - By CoinsProbe

Today, the cryptocurrency market is experiencing a sharp pullback amid rising geopolitical tensions between Israel and Iran. Ethereum (ETH), one of the leading assets, has fallen by more than 3%, dropping from a 24-hour high of $2567 to around $2425. It's no surprise that altcoins have followed suit, with Ondo (ONDO) being one of the assets affected by the decline.
ONDO has dropped by 3% today, bringing its monthly losses to over 22%. However, while the price action may seem bearish at first glance, a closer look at the daily chart reveals a potentially explosive setup—one that reflects a previously successful fractal pattern.

The daily chart of ONDO shows the development of a familiar pattern. At the end of 2024, ONDO consolidated in a descending wedge, repeatedly testing a key demand zone around $0.40–$0.45. After compressing below key moving averages (20, 100, and 200 SMA), the token surged, rising 261% to a peak of around $1.55.

The current configuration looks almost identical to the breakout in November 2024—including the formation of a candle signaling the absorption of demand at the 200 SMA. If history repeats itself, ONDO may be preparing for a significant rally to $2.70, a potential increase of 261% from current levels.

What’s next for ONDO?
The key physiological support for ONDO is in the range of $0.68–$0.76. Maintaining this zone is crucial for preserving the bullish structure. Movement above the 20-day and 100-day SMAs will be the first confirmation of strength. The next level to watch is the 200 SMA around $1.12, turning which into support could trigger a breakout above the descending resistance.

A successful breakout could take ONDO into the $1.20–$1.40 range in the coming weeks with a long-term target of $2.50–$2.70, if the momentum reflects the previous fractal.

Final words
While the recent price drop of ONDO may seem discouraging, the broader technical picture suggests otherwise. An almost perfect fractal model—including the merging with moving averages, historical support, and compression—indicates that this could be the primary accumulation phase.

If the fractal continues to play out, ONDO may be laying the groundwork for another powerful rally. But with high macroeconomic uncertainty, particularly amidst ongoing geopolitical tensions, traders should remain patient and wait for clear confirmation before diving in.



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