ONDO has recently demonstrated signs of a structural reversal after successfully breaking above a long-term resistance level. According to analysts, this breakout could signal the onset of bullish momentum as the asset transitions from a descending structure to a rising trendline.
Crypto analyst Crypto General highlighted a key technical pattern that occurred in early May, where ONDO managed to break out from a multi-month descending resistance trendline. This shift followed prolonged downward pressure observed from February to April. The price rebounded on the retest, establishing a solid support base at approximately 0.8800 USDT.
Crypto General also pointed to a notable consolidation range between 0.5494 USDT and 0.8800 USDT, suggesting it served as a significant accumulation zone. Currently, ONDO is eyeing the next resistance level at 1.4722 USDT, with projections indicating a potential rally of up to 70%. Should the bullish momentum sustain, ONDO could aim for a more aggressive upside, targeting the 4.5000 USDT region, representing a possible 400% surge.
Rising Channel Indicates Building Bullish Momentum
Another prominent analyst, X Finance Bull, provided further confirmation of ONDO’s strengthening bullish structure through a weekly chart analysis on the MEXC exchange. He observed that ONDO has maintained a rising parallel channel, characterized by higher lows and steady support at the 0.7923 to 0.8925 USDT range.
X Finance Bull emphasized that the RSI recently broke above a descending trendline, aligning with bullish divergence. The analyst identified potential resistance targets at 2.1554 and 3.0089 USDT, cautioning that these levels could pose challenges as ONDO continues its upward trajectory.
ONDO’s Path Forward: Bullish Cycle on the Horizon?
Both analysts agree that ONDO appears to be in the early stages of a bullish cycle driven by recent technical shifts and rising market interest. As the asset approaches key resistance levels, market participants are closely monitoring whether ONDO can maintain its momentum and secure further gains. With a potential altseason on the horizon, ONDO’s structural reversal could set the stage for significant price action heading into Q3 2025.
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.
Also Read: ONDO Price Targets Breakout as Ondo Finance Brings RWA Bridge to Solana
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