ONDO has officially broken out above the neckline after months of consolidation. The structure reflects a classic inverse head & shoulders pattern, signaling a strong bullish trend reversal.
đž Support at $0.92 â $0.85:
This zone previously served as a key resistance and is now acting as local support. while $0.54 is the ultimate invalidation level for bulls.
đž Upside Target: $2.00 â $2.50
With the breakout confirmed, the next logical targets lie near previous highs. If the retest holds, we could see a steady move toward $2.00 and potentially $2.50 in the coming weeks.
đž Risk Level at $0.54:
A weekly close below $0.54 would put the breakout in question. New entries should use a tight stop loss below this zone to manage risk effectively.
đž Outlook:
â
Already holding? Hold strong and trail stops as price moves up.
đ Missed entry? A clean retest around $0.85 â $0.92 would be a high-probability re-entry zone.
đ Watch for increasing volume and bullish structure on the retest to confirm continuation.
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