ONDO Eyes Multi-Leg Rally: Key Levels Suggest 2000% Cycle Potential

ONDO has been trading in a prolonged corrective phase, sliding from highs near $1.00 down to a bottom around $0.37–$0.38 since September. Technical analysis points to the formation of an accumulation structure, where selling pressure appears to be weakening and larger market participants may be absorbing supply. Currently, ONDO is holding above the 0.786 Fibonacci retracement, placing it in a high-confluence demand zone between $0.35 and $0.45.

The reaction from the lows, including a sharp rebound and reclaiming minor structure, suggests that sell-side exhaustion is occurring. Trading activity aligns with a bullish order block, indicating the potential for a multi-leg expansion if this demand zone continues to hold. Analysts note that accumulation phases require patience, as price often consolidates in this range before a larger upward movement begins.

Technical Momentum Signals Building Upside

The indicators on a daily chart reflect a change in momentum. The MACD histogram is also positive at the moment. The MACD is approaching a bullish cross. This implies a weakening pressure on the sell side and a growing presence of buying pressure. The RSI indicator has also moved closer to the level of 60 after staying around an oversold region for a few weeks.

The range oscillator is also positive for the first time in the early stages of the ongoing accumulation trend. In the past, such a move for the ONDO has been followed by a multi-week rally, and therefore, the ongoing rally might still be part of the downtrend.

ONDO Key Levels to Watch for Breakout or Breakdown

The initial level to move past is in the $0.48-$0.52 zone. This level corresponds to previous trading activity and resistance levels. In the event of a clean close above this resistance level, it would likely propel the trend to $0.60 or above to other highs, such as $1, $2, and above, as a result of possibly transitioning from accumulation to markup phases. On the lower side is the level of support in the $0.40-$0.38 zone.

The Fibonacci projection shows that if the demand zone continues to be strong, then a multi-stage rally for ONDO might begin. It will target the resistance at mid-ranges and then the higher levels. The target projection shows a potential gain of over 2000% in the future.

Also Read: ONDO Price Breakout Analysis Shows Strong Upside, Targeting $0.85 Soon