Ondo Finance Targets Breakout Above $0.89 as Market Sentiment Builds
Ondo Finance (ONDO) is at a critical juncture as the crypto market shows signs of recovery. Analysts are monitoring for a potential breakout above $0.89, which could indicate an uptrend.
Key points include:
- ONDO has formed a narrow parallel channel, indicating possible price movement.
- A breakout above $0.89 may lead to increased bullish momentum and a rally toward $1.
- Despite partnerships with major firms like Ripple, ONDO's price has dropped over 65% since December.
- Current trading around $0.88 reflects market indecision after heavy selling pressure.
- To confirm recovery, ONDO must surpass $0.90 and approach the $1.08 moving averages.
- Failure to break above $0.90 may lead to retests of support near $0.80.
ONDO's next moves will be crucial in determining its short-term direction amid ongoing macroeconomic uncertainties.
