After staying in the descending channel for a while, the ondo (Ondo) broke out at the end of this structure at a low $ 0.60 level. This breakthrough was a key signal that things could move in favor of bulls.
Over the past few days, the price of the ondo went a bit back to test the top of this old channel again, and this repetition now shows signs of success.
During this writing, ondo trades about $ 0.90. If the breakthrough is valid, the next logical move would be upwards. But it all depends on what the wider crypto market will do in the coming days. If the bitcoin stays flat or the head is lower, the price of the ondo may also slow down or even fall. But when the market starts to rally again, it could be riding this wave.
Looking to the future, Is the price of There may be resistance of $ 1.20, $ 1.60 and finally $ 2.00, which is at the top of the wider channel range. These levels may slow down or stop the momentum, but as the trading volume rises, the symbol may break through them one by one.
What the Subsiders are on the Price of the Ondo
We checked the latest technical indicators from Investing.com to see what the Daily diagram tells us. Currently, the signals are a mixed bag, but there are some positive signs for a short -term outlook.
Its Relative strength index (RSI) Sitting at 54.5, considered neutral. This means that the price is not excessive or transitioned and can go from here.
Its Stochastic oscillator (stoch) It is also neutral, floating about 47.3. It does not currently give a strong signal, but confirms that it is in a healthy zone, neither too hot nor too cold.
Its Passage channel index (CCI) There is currently one of the strongest signals. It sits at 175.7, which is well “buy”. This suggests that Price's impulse rises.
Other bullish indicators include The rate of change (ROC) at 1,84 and The power of the bull/bear at a temperature of 0.022. Both blink shopping signals that suggest on the recent rise of the upward rise.
Moving mediums are a bit more complex. Short-term, like a 20-day sliding average, is now bullish, with a price on them. But 50-day, 100-day and 200-day slipping averages still act as a resistance, which means that the price is below their level. This shows that ondi has a bit of work to do before we can call it a strong rise.
Read also: The analyst reveals why is the price of the
So, should you have $ 2000 now?
Based on the current setting of the chart and the technical indicators, the signs of potential movement show are higher. Breakout and a successful repetition give the bulls something to work. However, the wider crypto market still has a lot of uncertainty and has not yet deleted all its long -term resistance zones.
If you are thinking of putting $ 2,000 on ondo, there may be a smart strategy Dollar-Cost average (DCA) Instead of going in at once. You can divide your investment into four parts and buy different price levels. So when the price falls, you have the opportunity to buy a lower one. If it climbs, you are at least partially in trade.
Overall, ondi has the potential, especially when the market becomes a bullshit again. But like any Altcoin, it is a risk. If you are satisfied with volatility, gradually entering may be a reasonable step right now.
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