$ONDO Accumulation Zone Analysis #ONDO is currently trading wit
ONDO Accumulation Zone Analysis#ONDO is currently trading within a strong weekly demand zone between $0.60 – $0.40, marked by heavy historical buying interest and multiple successful bounces. This area has acted as a reliable accumulation range in the past, forming a potential triple bottom or inverse head & shoulders pattern — both classic reversal signals.
🔸 Support at $0.40 – $0.60:
This zone has been tested multiple times, confirming buyers' interest. The red horizontal line around $0.40 is the ultimate invalidation point for bulls.
🔸 Upside Target:
The white projection line shows a potential rally after price confirms breakout above $0.91 resistance, targeting previous highs near $2 – $2.50, in line with historical resistance.
🔸 Risk Level at $0.38 (Invalidation):
If price closes weekly candles below $0.40, this bullish structure is invalidated. A strict stop loss should be placed just under this region.
🔸 Outlook:
Accumulate in the $0.60 – $0.40 range, ideally with staggered entries. Wait for confirmation breakout above $0.91 for aggressive exposure. Monitor for bullish volume and structure around the neckline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.