The price trend of ONDO reflects the past bullish breakout – are significant moves coming soon?

The cryptocurrency market shows strong signs of a rebound, with Bitcoin (BTC) and Ethereum (ETH) surging 6% and 9% respectively over the past week.

This provides much-needed relief for altcoins that suffered significant corrections after the rebound at the end of 2024.

As market sentiment gradually improves, the token focused on real-world assets (RWA), Ondo (ONDO), has also garnered attention, rising as much as 11% in the past week.

After experiencing a significant decline over the past three months, ONDO is now showing signs of a potential breakout, with its price trend resembling past bullish rebounds that led to explosive increases.

Charts indicate that ONDO is on the verge of a potential breakout. A similar declining channel was observed last year, which ultimately led to a strong increase of over 234%.

The structure of the current price trend reflects past patterns, suggesting that history may be repeating itself. If the breakout is confirmed, ONDO could see a significant rise.

A key technical factor supporting the potential reversal is the 25-day moving average (MA), currently at $1.1468.

In previous breakouts for ONDO, breaking this level confirmed a trend shift, providing substantial upward space. If history repeats, a successful breakout by ONDO while maintaining this MA could confirm a full recovery.

The next key resistance levels to watch are $1.64 and the all-time high of $2.14. These price levels have previously been strong rejection points, and consistently breaking through these levels could pave the way for a long-term bullish rebound.

ONDO is recreating its past breakout structure, and the token is at a critical moment. Breaking the downward channel and the 25-day moving average could confirm a trend reversal, laying the foundation for a strong recovery.

Additionally, the MACD indicator shows signs of a potential bullish crossover, which could further support upward momentum. If buying pressure increases, ONDO may soon target $1.64 and $2.14, indicating significant upside potential from current levels.

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