🟢 1. Overall Trend:
ONDO is still holding above a long-term ascending trendline (blue upward line), indicating the bullish structure remains intact.
The current price is testing this trendline, which acts as a strong support level.
🧠 2. Elliott Wave Structure:
The chart suggests a W-X-Y corrective wave pattern may have just completed or is close to completing.
The recent low labeled (Y) could potentially be the bottom before a new bullish wave begins.
☁️ 3. Ichimoku Cloud:
The price is currently near the Kumo cloud, indicating indecision or consolidation.
The Tenkan-Sen (red) and Kijun-Sen (blue) lines are close together, showing a lack of strong trend momentum for now.
A breakout above the cloud would signal a bullish reversal confirmation.
📊 4. Fibonacci Retracement Levels:
Price is near the 23.6% retracement level (~$1.12) from the previous top – a key resistance zone.
Higher resistance targets include 61.8% (~$1.74) and the 100% previous peak (~$2.37).
📉 5. RSI (Relative Strength Index):
Weekly RSI is around 42.39, not yet oversold but nearing the lower bound.
There's a possible bullish divergence forming and RSI is curving upward – a positive early signal.
📈 6. MACD (Moving Average Convergence Divergence):
MACD line has just crossed above the signal line, and the histogram is starting to turn green.
On the weekly timeframe, this crossover is a strong bullish reversal signal if confirmed in the following candles.
📊 7. Volume:
Volume has increased recently, especially near the trendline support, showing buyer interest at lower prices.
🧩 Conclusion:
Current key support: $0.89–$0.91 zone (along the ascending trendline).
As long as this support holds and RSI + MACD continue improving, ONDO may rebound toward the next resistance levels at $1.12, $1.74, and possibly $2.37.
If the price breaks below the trendline, the next major support lies near $0.73.
ONDO is still holding above a long-term ascending trendline (blue upward line), indicating the bullish structure remains intact.
The current price is testing this trendline, which acts as a strong support level.
🧠 2. Elliott Wave Structure:
The chart suggests a W-X-Y corrective wave pattern may have just completed or is close to completing.
The recent low labeled (Y) could potentially be the bottom before a new bullish wave begins.
☁️ 3. Ichimoku Cloud:
The price is currently near the Kumo cloud, indicating indecision or consolidation.
The Tenkan-Sen (red) and Kijun-Sen (blue) lines are close together, showing a lack of strong trend momentum for now.
A breakout above the cloud would signal a bullish reversal confirmation.
📊 4. Fibonacci Retracement Levels:
Price is near the 23.6% retracement level (~$1.12) from the previous top – a key resistance zone.
Higher resistance targets include 61.8% (~$1.74) and the 100% previous peak (~$2.37).
📉 5. RSI (Relative Strength Index):
Weekly RSI is around 42.39, not yet oversold but nearing the lower bound.
There's a possible bullish divergence forming and RSI is curving upward – a positive early signal.
📈 6. MACD (Moving Average Convergence Divergence):
MACD line has just crossed above the signal line, and the histogram is starting to turn green.
On the weekly timeframe, this crossover is a strong bullish reversal signal if confirmed in the following candles.
📊 7. Volume:
Volume has increased recently, especially near the trendline support, showing buyer interest at lower prices.
🧩 Conclusion:
Current key support: $0.89–$0.91 zone (along the ascending trendline).
As long as this support holds and RSI + MACD continue improving, ONDO may rebound toward the next resistance levels at $1.12, $1.74, and possibly $2.37.
If the price breaks below the trendline, the next major support lies near $0.73.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.