ONDO/USDT – Potential Breakout from Bullish Triangle Formation
Description:
ONDO is currently forming a bullish symmetrical triangle on the 4H chart, following a successful breakout from a falling wedge pattern. The price is consolidating and appears to be building momentum for a potential sharp move to the upside.
A breakout above the $0.90–$0.942 resistance zone, backed by strong volume, could trigger a rally towards $1.01, $1.08, and potentially $1.17 in the medium term. Watch for a significant volume spike and a strong bullish candle to confirm the breakout. Key support levels lie at $0.776 and $0.751.
Technical Indicators:
Bullish price structure
MACD showing potential bullish crossover
Volume currently decreasing, indicating market waiting for a decisive move
Breakout confirmation is crucial. Stay alert and manage risk accordingly.
Description:
ONDO is currently forming a bullish symmetrical triangle on the 4H chart, following a successful breakout from a falling wedge pattern. The price is consolidating and appears to be building momentum for a potential sharp move to the upside.
A breakout above the $0.90–$0.942 resistance zone, backed by strong volume, could trigger a rally towards $1.01, $1.08, and potentially $1.17 in the medium term. Watch for a significant volume spike and a strong bullish candle to confirm the breakout. Key support levels lie at $0.776 and $0.751.
Technical Indicators:
Bullish price structure
MACD showing potential bullish crossover
Volume currently decreasing, indicating market waiting for a decisive move
Breakout confirmation is crucial. Stay alert and manage risk accordingly.
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.