The price of ondo has risen over 11% in the last day And for the first time, for the first time in months, it breaks through key security. Trading volume has risen by more than 50%and is being written about $ 1.01. After months of pressure, this last step raises the question: is it a real breakthrough or just another short -term rally?
Let's take a closer look at the charts to see if $ 1,000 is wise at the moment.
Has outdo out of the descending trend line several times
Has held a descending trendin that dates back to December 2024. This trendy rejected three main racing tests: one near $ 1.65 in mid -January, the other about $ 1.10 in early March and the third in April 0.95. Each rejection formed a lower height, keeping a clear decline.
After a long consolidation The price of this trend in the end is the price of the end April 24. Breakout came with a large bullish candle that was closed from both the trend line and the recent height. The move was also supported by increased volume, signaled by the renewed purchase strength.
Picture Source: TradingView.com
Ondo key support levels hold and the structure becomes bullshit
Underneath the surface has built a solid foundation. The zone of $ 0.65-0.70 has repeatedly been a grant since March. The price has collided several times from this level, showing that buyers are active in this range.
More importantly, it is now shifting from its entry from its market structure. The price has formed a higher lowest price of $ 0.67 and simply printed above the peak of March. This shift refers to the reversing of the trend, with $ 0.85-0.87 a rest area is now a new support. If you are able to keep this area above, you could follow further.
Read also: XRP Supply Chain Violation: Ripple's Attack Endangered Private Keywatches
In addition, the next challenge is in the range of $ 1,15-1.20 – a zone that previously acted as an offer. If this level is emptied, the following goals include $ 1.30 and potentially $ 1.50, where the psychological resistance of the game may be.
If you fall below $ 0.85, the breakthrough may fail and the sellers may restore the control. When the repair is set at $ 0.65-0.70.
So, should you put $ 1,000 in the ondo?
The price of the one has shown a clear technical breakthrough And early signs of trend change. If the price is more than $ 0.85 and pushes $ 1.15, it can run a new leg.
Until then, the setting offers strong potential but remains at the point of the turn. Confirmed movement over $ 1.15 would strengthen the entry case, while the immersion under $ 0.85 can be cautious.
Follow us on X (Twitter)To do, Coinmarketcap and Binance Square For everyday crypto innovations.
Get all our future calls by joining us Free telegram group.
We recommend Etorot
Active user communities and social functions such as news flow, conversations for specific coins available for trading.
A wide selection of assets: cryptocurrency along with other investment products, such as stocks and ETFs.
Copying: Allows users to copy free traders' transactions for free.
User -friendly: ETORO's web -based platform and mobile application are user -friendly and easy to navigate.
