After a strong rally back in 2024, ONDO topped at $2.15 — completing a clear 5-wave impulsive move. Since then, price has entered a prolonged downtrend, dropping over -70%, with no confirmed reversal signs yet.
We’re now trading around a critical zone near $0.70. So the question is: where’s the next potential bottom?
🔎 Technical Breakdown:
📍 VWAP Breakdown:
The yellow anchored VWAP (Volume Weighted Average Price) has been lost — a clear sign of market weakness. This VWAP was previously acting as support but has now flipped to resistance, which often precedes continued downside.
📌 Key Support Zone:
$0.80–$0.70 was a structural support area that has now been broken — another bearish sign.
📉 Fibonacci Confluence:
Taking the structure and applying a Fibonacci retracement, the 0.786 retracement lies at $0.4828 — let’s round that to a critical $0.50 zone. This level is important for several reasons:
All roads lead to the $0.50 level as a potential high-probability reversal zone. A bounce from here — especially with volume confirmation or reversal candlesticks etc. — would be a signal worth watching.
💡 Educational Insight: Importance of 0.786–0.886 Fibonacci Zone + VWAP
While many focus on the 0.618 retracement, bear markets often go deeper.
The 0.786–0.886 zone is where emotional exhaustion kicks in — traders give up, liquidity pools build, and smart money steps in.
Combining this with Anchored VWAP adds precision:
VWAP reflects where the “average buyer” is positioned. When price reaches confluence with both deep fibs and VWAP fib bands, you have a statistically powerful setup for reversals.
🚨 Note: These zones are not automatic buy levels — watch for confirmation signs before entering.
🛎️ Set your alerts, stay patient, and as always let the trade come to you.
_________________________________
💬 If you found this helpful, drop a like and comment!
Want breakdowns of other charts? Leave your requests below.
We’re now trading around a critical zone near $0.70. So the question is: where’s the next potential bottom?
🔎 Technical Breakdown:
📍 VWAP Breakdown:
The yellow anchored VWAP (Volume Weighted Average Price) has been lost — a clear sign of market weakness. This VWAP was previously acting as support but has now flipped to resistance, which often precedes continued downside.
📌 Key Support Zone:
$0.80–$0.70 was a structural support area that has now been broken — another bearish sign.
📉 Fibonacci Confluence:
Taking the structure and applying a Fibonacci retracement, the 0.786 retracement lies at $0.4828 — let’s round that to a critical $0.50 zone. This level is important for several reasons:
- Liquidity rests at a previous key low at $0.50128
- Anchored VWAP Band (0.618 multiplier) aligns with the same area
- The 8/1 Gann Fan also intersects around this zone
All roads lead to the $0.50 level as a potential high-probability reversal zone. A bounce from here — especially with volume confirmation or reversal candlesticks etc. — would be a signal worth watching.
💡 Educational Insight: Importance of 0.786–0.886 Fibonacci Zone + VWAP
While many focus on the 0.618 retracement, bear markets often go deeper.
The 0.786–0.886 zone is where emotional exhaustion kicks in — traders give up, liquidity pools build, and smart money steps in.
Combining this with Anchored VWAP adds precision:
VWAP reflects where the “average buyer” is positioned. When price reaches confluence with both deep fibs and VWAP fib bands, you have a statistically powerful setup for reversals.
🚨 Note: These zones are not automatic buy levels — watch for confirmation signs before entering.
🛎️ Set your alerts, stay patient, and as always let the trade come to you.
_________________________________
💬 If you found this helpful, drop a like and comment!
Want breakdowns of other charts? Leave your requests below.
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Related publications
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.
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Related publications
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.