Key Indicator Reveals ONDO Price Is Primed for New All-Time High: Watch These Metrics

ONDO price has taken quite a tumble from its recent highs, but don't count it out just yet. A closer look at the charts suggests this dip might actually be setting the stage for something much bigger.

Key Indicator Reveals ON เปิด (0.00)0%0.0000000000000000Key Indicator Reveals ONDO Price Is Primed for New All-Time High: Watch These Metrics

ONDO price has taken quite a tumble from its recent highs, but don’t count it out just yet. A closer look at the charts suggests this dip might actually be setting the stage for something much bigger.

An analysis from Kyren, who boasts more than 37,000 followers on X, shows that right now, ONDO is at a crucial support level. What’s more, this aligns with previous breakout points. Also, we’ll be highlighting some Fair Value Gaps (FVGs) and Relative Strength Index (RSI) signals.

If you glance at the chart, you'll notice that ONDO price has pulled back to an area that has served as a springboard in the past. Now, what makes this spot particularly interesting are the blue-shaded zones—those are the Fair Value Gaps, or FVGs.

These gaps arise when price moves so rapidly that very little trading activity happens within a specific price band. Traders often keep an eye on FVGs as they tend to act as a magnet for support or resistance when price revisits these gaps.

What’s more, RSI is currently showing one of its most oversold readings ever. The last time RSI dropped this low, ONDO didn’t stay down for long before launching into a strong rally.

Whenever RSI gets this oversold, it typically signifies that sellers have run out of steam, setting the stage for a potential bounce.

Kyren highlights something particularly interesting about ONDO’s current position—it’s sandwiched between two significant FVGs. This exact scenario has historically led to powerful bullish reversals. The lower FVG (which Kyren marks with arrows in the chart) has consistently provided support, suggesting that smart money might be accumulating at these levels.

If we consider how similar technical patterns have unfolded in the past, they’re often preludes to new all-time highs. If this historical pattern repeats itself, we could be witnessing the initial stages of another major bullish phase.

The key signal to watch for would be a decisive breakout above the current resistance level (which is indicated by the red line in the chart).

With ONDO at strong technical support and showing extreme oversold readings, the conditions appear to be setting up for a potential reversal.

Considering how similar setups have played out in previous trading cycles, this could be the launching pad for a move toward new record highs. However, it’s crucial to remember that all trading carries risks. If ONDO fails to hold this support, we might see more downside before any meaningful recovery begins.

The current technical setup certainly deserves attention, especially from anyone who has been following ONDO’s price action closely.

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