ONDO is currently trading around $0.3655, approaching an important support area that aligns with the 88.6% Fibonacci retracement.
The overall daily structure remains bearish, with price consistently forming lower highs after reaching its peak around $0.59. However, price is now approaching a key confluence area where the ascending trendline meets the 88.6% Fibonacci zone.
I'm watching this area closely for a potential reaction. Ideally, I would like to see price sweep the buy zone, reclaim the ascending trendline and establish a bullish structure before considering an entry.
If buyers manage to defend this area, the first upside objective would be around $0.38–$0.40, followed by a potential move towards $0.42.
However, a breakdown below the buy zone would invalidate this setup and could expose lower support levels.
For now, this is a potential reversal setup rather than a confirmed bullish trend change. I would prefer to wait for confirmation instead of catching a falling knife.
The overall daily structure remains bearish, with price consistently forming lower highs after reaching its peak around $0.59. However, price is now approaching a key confluence area where the ascending trendline meets the 88.6% Fibonacci zone.
I'm watching this area closely for a potential reaction. Ideally, I would like to see price sweep the buy zone, reclaim the ascending trendline and establish a bullish structure before considering an entry.
If buyers manage to defend this area, the first upside objective would be around $0.38–$0.40, followed by a potential move towards $0.42.
However, a breakdown below the buy zone would invalidate this setup and could expose lower support levels.
For now, this is a potential reversal setup rather than a confirmed bullish trend change. I would prefer to wait for confirmation instead of catching a falling knife.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.