ONDO Price Action Suggests a Potential Reversal: Could a ~100% Surge Be Next? Here's the Outlook

ONDO token is trading close to support at $0.70-$0.75, and traders are talking about a possible price reversal.

ONDO token price has been showing interesting signs of a potential reversal, and traders are discussing the possibility of a ~100% price surge from current levels.

Recently, a crypto analyst has identified a bullish wedge pattern forming on the chart, which has historically led to big price increases for ONDO.

As seen on the chart by Lucky, a crypto analyst, shows that the price of ONDO has been moving in a wedge pattern. This pattern has seen the price bounce off of support at $0.70-$0.75, and it is now approaching the breakout point of the wedge.

Past instances of this pattern's formation have seen large price rallies in the direction of the breakout. For example, when the price broke out of the wedge in mid-2023, it led to a strong upward move that took the token to $1.50.

If this pattern plays out again, and we see a breakout of the wedge to the upside, then analysts suggest that the next target for ONDO could be to reach prices of $2.00 and higher.

The crypto analyst, who is also a contributor at CryptoMojo, places the main support to watch at the lows of $0.70-$0.75.

This level has been tested on multiple occasions, and it is likely to be a strong launchpad for another attempt at reaching the round high of $1.48-$1.50.

Above this level, the next major resistance is at $2.00 and higher, which is the price range where the token encountered selling pressure before.

Failure to hold support at $0.70-$0.75 could lead to another leg down to test the lower channel boundary.

From there, we might see another recovery attempt, but if the $0.70-$0.75 support breaks completely, then further weakness is likely.

ONDO token price is currently showing interesting signs of a potential reversal, and traders are discussing the possibility of a ~100% price surge from current levels.

Recently, a crypto analyst has identified a bullish wedge pattern forming on the chart, which has historically led to big price increases for ONDO.

As seen on the chart by Lucky, a crypto analyst, shows that the price of ONDO has been moving in a wedge pattern. This pattern has seen the price bounce off of support at $0.70-$0.75, and it is now approaching the breakout point of the wedge.

Past instances of this pattern’s formation have seen large price rallies in the direction of the breakout. For example, when the price broke out of the wedge in mid-2023, it led to a strong upward move that took the token to $1.50.

If this pattern plays out again, and we see a breakout of the wedge to the upside, then analysts suggest that the next target for ONDO could be to reach prices of $2.00 and higher.

The crypto analyst, who is also a contributor at CryptoMojo, places the main support to watch at the lows of $0.70-$0.75.

This level has been tested on multiple occasions, and it is likely to be a strong launchpad for another attempt at reaching the round high of $1.48-$1.50.

Above this level, the next major resistance is at $2.00 and higher, which is the price range where the token encountered selling pressure before.

Failure to hold support at $0.70-$0.75 could lead to another leg down to test the lower channel boundary.

From there, we might see another recovery attempt, but if the $0.70-$0.75 support breaks completely, then further weakness is likely.

The post ONDO Price Action Suggests a Potential Reversal: Could a ~100% Surge Be Next? Here’s the Outlook appeared first on Cryptoснимок.