ONDO is poised for a significant upside move after repeating a symmetrical cycle pattern and establishing a new bullish structure. On May 11, 2025, a technical chart revealed a sequence of wave formations followed by a breakout setup targeting $2.80. Currently, ONDO is trading at $1.10 after reclaiming a crucial support level at $1.00.
Wave Structure Reveals Cyclical Repetition The chart illustrates two major Elliott Wave cycles, each comprising clearly defined five-wave advances and corrective A-B-C patterns. Both cycles appear to last approximately 213 days, highlighting a consistent behavioral pattern among ONDO traders.
Following the completion of the second A-B-C correction, ONDO is positioned for its next impulsive wave higher. Technical indicators reveal a rebound from a long-term green trendline that has served as support since February 2024. The previous tops and bottoms align with the current price movement, strengthening the bullish outlook.
A speculative path plotted in white projects a potential rise to $2.60-$2.80 over the next few months, mirroring prior wave five structures that peaked near the upper orange resistance trendline. The RSI is currently trending near 70, indicating growing momentum without entering overbought territory.
Market Timing Aligns With Historical Patterns ONDO’s breakout intervals exhibit consistent time frames, reinforcing the projected upward trajectory. Each bottom-to-top interval spans roughly 194 days, underscoring the cyclical nature of ONDO’s price action.
In previous rallies, ONDO surged from sub-$1.00 levels to nearly $2.80 within weeks. If the current pattern adheres to the historical timeline, a breakout could materialize before late July 2025. The recent volume spike and momentum from the May breakout further confirm this potential.
Also Read: ONDO Price Reversal: Analysts Predict 400% Rally as Bullish Momentum Builds
Can ONDO Sustain the Bullish Wave? The key question is whether ONDO can sustain its bullish structure and achieve the projected $2.80 target. With RSI backing upward strength and the wave structure intact, the foundation is set. However, traders are monitoring volume and price action closely.
A decisive close above $1.20 would likely confirm the start of a new impulsive wave. Given the historical symmetry and trendline targets, technical analysts remain watchful as ONDO attempts to mirror its previous wave cycles. The timing and strength of the next breakout will be crucial in validating this bullish thesis.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
