ONDOUSDT is compressing inside a falling wedge, now trading near key support. Signs of potential reversal are building.🔹 Key Observations
• Pattern: Falling wedge (bullish bias)
• Support: Price is holding just above the ~$0.68–$0.75 demand zone
• Volume: Declining throughout the wedge – typical pre-breakout behavior
• RSI: Bullish divergence forming + compression under 50, often seen before breakouts
🔸 What to Watch
• Breakout trigger: Daily close above wedge resistance (orange trendline), ideally with volume
• Target zones: $1.30 to $1.60, then $1.90 to $2.10 (prior S/R levels)
• Invalidation: Breakdown below the green demand zone ($0.68)
⚠️ As always, confirmation matters – no breakout yet. But the setup is clean and worth watching closely.
Trade active
Breakout confirmed, now potentially retesting the resistance as support.If it holds, the upside target should be in the $1.5-$1.6 area.
Invalidation would be a sustained break back below the resistance.
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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.