Binance Squad, are you ready for a potential ONDO rally? 🤔 The recent price action has been intriguing, and we're seeing signs that could point to a bullish reversal.
What's the Big Idea?
ONDO recently broke below a key support level, but the market reaction was surprising. There wasn't a major sell-off, which could be a bullish sign! This lack of follow-through might be a "shakeout"— a move to trap short sellers before a big price jump.
Here's the Play:
* Watch the $1.30 - $1.34 Zone: This is the key resistance level. If ONDO reclaims this zone, it'll confirm the shakeout theory and signal a potential bullish reversal.
* Bullish Targets: If bulls break through $1.34, we could see a quick move towards $1.60, followed by a test of the strong resistance zone between $1.70 and $1.75.
* Bearish Invalidation: If ONDO closes below $1.10 on a daily timeframe, it would invalidate the bullish scenario.
Why is This Setup Interesting?
The repeated reactions from the $1.10 - $1.15 support zone suggest that buyers are actively defending this level. This strong support could give bulls the confidence to push through the resistance above.
Remember, Binance Squad, this is not financial advice! Do your own research and consult with a qualified financial advisor before making any investment decisions.
What do you think? Do you see a bullish reversal in ONDO's future? Share your thoughts and strategies in the comments below!
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