ONDO Price to See Easy 3x If This Bullish Setup Plays Out Completely

The price of ONDO is in the green today, with an upside of around 5% so far at the time of writing. It is also one of the tokens recovering well after

The price of ONDO has shown an impressive recovery after the recent market crash, leaving many traders wondering what the future holds for this cryptocurrency. According to World Of Charts, there is a good chance that ONDO price will continue to rise from its current level.

After a significant drop, ONDO is recovering quickly. Some analysts believe that the price could easily rise by 2 to 3 times from its current level if the market begins to recover.

World Of Charts shared a chart that shows the price of ONDO in relation to USDT. Initially, ONDO was trading within a downward channel, which is characterized by lower highs and lows, indicating a bearish trend.

However, the recent breakout from this channel suggests a shift in momentum. According to the analysis, this breakout is a bullish signal that indicates selling pressure is easing and buyers are taking control.

After the recent crash, which marked a significant correction, there was a notable rebound in price. This “V-shaped” recovery illustrates strong buying interest at lower price levels, further reinforcing the bullish sentiment outlined by World Of Charts.

The steep upward projection on the chart supports the idea that a strong bullish trend may be underway, potentially leading to a significant surge in price.

Two Possible Scenarios for ONDO Price

If the overall market experiences bullish momentum, it could provide additional support for ONDO upward trajectory.

However, there are two possible scenarios to consider. In the bullish case, if the breakout holds and market conditions improve, ONDO could see significant gains, potentially reaching 2-3 times its current value.

Conversely, if the breakout fails and the price re-enters the downward channel, there could be further downside risk, which would invalidate the bullish setup.

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