ONDO is maintaining a bullish market structure, with price action forming a clear pattern of accumulation, breakout, correction, and potential continuation.
Crypto analyst Alex Clay (@cryptclay) shared insights on ONDO’s price movement, highlighting its resilience above a critical support level. The current market structure suggests a continuation of the rally if ONDO holds above its key support zone.
ONDO’s price history showcases a well-defined Falling Wedge accumulation phase between March and November 2024. This pattern, typically a bullish reversal signal, resulted in a strong breakout in November, confirming a shift in trend.
Structure is bullish as hell🐃
Falling Wedge accumulation → Breakout Rally → Correction → Resume the Rally
I like how $ONDO kept it above the Key Zone👌 So this consolidation will lead to the more upside🚀 pic.twitter.com/FD5eUrGnaB
— Alex Clay (@cryptclay) February 13, 2025
Following the breakout, ONDO experienced a significant rally through December, breaking multiple resistance levels. Clay noted that this upward movement demonstrated strong buying pressure, reinforcing the bullish outlook.
After peaking above $2.00, ONDO entered a correction phase in January 2025, a normal occurrence in strong uptrends. The price retraced into the $1.10 – $1.30 range, which had previously acted as resistance but now serves as a key support zone.
Clay pointed out that ONDO briefly wicked below this range but rebounded swiftly, suggesting a liquidity grab before resuming its uptrend. The price consolidation within this zone indicates strong demand, reinforcing the likelihood of a continuation to the upside.
ONDO’s Potential Upside and Resistance Levels
At press time, ONDO is trading at $1.34, consolidating near the support range. Resistance levels to watch include $1.50 – $1.55 in the near term, with historical price levels around $1.80 – $2.00 acting as the next major targets.
Clay emphasized that holding above the key support zone would be crucial for the next rally phase. A successful breakout above $1.50 could drive ONDO towards its previous all-time high (ATH) of $2.14 and beyond. Despite a 0.98% decline in the last day and 3.95% over the past week, ONDO’s overall market structure remains bullish.
According to CoinGecko, the token’s daily trading volume stands at $365.6 million. Analysts, including Clay, believe that as long as ONDO maintains its current support levels, a breakout rally is likely in the coming weeks.
Read also: This Chart Pattern Signals an XRP Price Rally to $15
ONDO’s Bullish vs. Bearish Scenarios
ONDO’s price trajectory depends on its ability to stay above $1.10 – $1.30. If the support holds, a move past $1.50 could trigger the next bullish wave towards $1.80 – $2.00.
However, a sustained drop below $1.10 could weaken the bullish outlook, potentially leading to a deeper correction. Current market indicators, however, favor continued upward momentum.
ONDO remains in a strong technical position, aligning its price structure with bullish market patterns. If consolidation continues above key levels, the next breakout could push ONDO toward higher price targets in the coming months.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
