In a present of power, the ONDO token has surged 36% from a key assist zone, reigniting bullish sentiment amongst traders and analysts alike. The cryptocurrency consolidated close to the $1.09 degree and demonstrated resilience because it bounced sharply to the touch $1.49, signaling a probable reversal in its current downtrend.
Following this rise, ONDO’s value aligns with the 38.20% Fibonacci retracement degree, an space traditionally proving to be an accumulation zone as consumers chipped in to stop additional losses upon hit. Including to the optimistic outlook, the token’s momentum indicators mirror a strengthening bullish case.
The Relative Energy Index, as an illustration, has climbed to 56.74 above the impartial 50 degree, implying rising shopping for power with more room to the upside earlier than overbought situations are met. Equally, the Shifting Common Convergence Divergence indicator shows a bullish crossover, with the MACD line at -0.0260 outpacing the sign line at -0.0522.
Assuming this bullish sentiment persists long-term, the ONDO cryptocurrency is anticipated to problem the buy-side liquidity, near the 50% Fibonacci degree, which acts because the token’s instant resistance. A breach above this threshold may affirm the altcoin’s bullish power, with $1.91, alongside the 78.6% Fib degree, being the primary goal.
Additional projections counsel that ONDO cryptocurrency may retest its all-time excessive close to the $2.14 degree, with the probability to enterprise into uncharted territory on the third goal of $2.40. This aligns with the 1.272 Fibonacci extension, signaling the potential for establishing new document highs.
Alternatively, a shift in market momentum to the draw back may end in value corrections, pulling ONDO towards its sell-side liquidity at $1.24, the place it may discover assist. But, a breach under this zone may retest ONDO’s key assist zone across the $1.09 degree.
ONDO’s Value Prediction: Specialists Perception Hints a New ATH
ONDO token is catching the eye of market analysts as technical indicators counsel a robust uptrend is underway. VipRoseTr, as an illustration, highlights a bullish breakout from a descending wedge, a traditional reversal sample, suggesting the cryptocurrency is poised for vital good points.
Intimately, VipRoseTr’s evaluation focuses on the consolidation inside the Fibonacci Zone Lengthy setup, the place the ONDO coin has efficiently maintained assist on the essential 0.618 retracement degree. This robust base offers the muse for the anticipated upward motion.
Based on the analyst, the breakout from the wedge additional confirms the probability of a pattern reversal, with projected targets set at $1.88840, $2.30651, and $2.76567, primarily based on Fibonacci extensions. Reinforcing VipRoseTr’s evaluation, Michaël van de Poppe, a well known cryptocurrency analyst, emphasizes the significance of sustaining increased timeframe assist ranges.
Request 05 – $ONDO
Quite simple methodology.
Greater timeframe assist degree holds –> new uptrend beginning. pic.twitter.com/wYjOUqXeEj
— Michaël van de Poppe (@CryptoMichNL) January 23, 2025
Based on Van de Poppe, that is essential for confirming the continuation of the uptrend. His easy but efficient methodology underscores the power of ONDO’s present construction, indicating that the token might be gearing up for a run towards new highs.
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