ONDO Price Analysis: Why $5 Remains a Realistic Target This Bull Run

ONDO price has been consolidating between $1.0 and $1.6 from the end of December. The price looks like it could break out either way (bullish or bearish).

As ONDO price consolidates between $1 and $1.6, technical analysis suggests a breakout either way. However, a chart pattern indicates a bull run with a target of around $5 this bull run.

Here’s how ONDO price could reach $5 and beyond, according to a technical analysis.

According to Crypto Patel, with more than 60,000 followers on Twitter, ONDO price trajectory shows promising potential for growth in the current bull market. In his technical analysis shared on February 8th, Patel emphasizes that a $5 target remains not just possible, but highly probable.

The ONDO/USDT trading pair has established a clear ascending channel pattern, with price action consistently respecting both upper and lower boundaries. This structured movement suggests strong market control and predictable trading ranges, making the $5 target particularly compelling.

Patel’s chart shows the $1 region as an optimal entry zone, noting the presence of strong historical support between $0.90 and $1.10. This area has repeatedly demonstrated its significance as an accumulation zone where buyers tend to step in aggressively.

In analyzing the price structure, Patel’s projection shows a potential corrective move toward the $1 support zone before initiating its next major leg up. The ascending channel formation supports this thesis, with the $5 target aligning perfectly with key technical resistance levels.

While Patel maintains a primarily bullish outlook, he doesn’t rule out even higher potential, suggesting $10 as a possible, albeit more ambitious, target. However, he emphasizes that $5 represents a more conservative and achievable goal for investors.

The analysis hinges on the price maintaining its position within the ascending channel and continuing to respect key support levels.

A key takeaway from Patel’s analysis is the importance of patient entry around the $1 mark, rather than chasing the price at higher levels. This strategic approach aligns with sound risk management principles while maximizing potential upside.

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