ONDO/USDT is currently forming a highly compelling structure on the 2-day timeframe. Price action suggests a possible breakout from a falling wedge pattern, which is typically a bullish reversal signal.
🔹 Strong Support Zone:
The price continues to respect a significant accumulation zone between 0.65 – 0.73 USDT, which has held as a major support area since September 2023. Multiple successful retests reinforce its strength.
🔹 Descending Trendline Breakout:
The descending resistance line (yellow trendline), connecting lower highs since December 2023, is being tested and appears to be breaking. A confirmed breakout could trigger a strong bullish reversal.
🔹 Potential Upside Targets (Based on Structure and Fibonacci Projections):
TP1: 0.81211 (breakout confirmation level)
TP2: 1.13111 (key horizontal resistance)
TP3: 1.56596 (technical extension zone)
TP4: 2.04123 – 2.14522 (major historical resistance and previous swing high)
🔹 Trade Idea:
Conservative Entry: Buy the retest near 0.73–0.75 USDT after breakout confirmation
Stop Loss: Below the key support zone, around 0.65 USDT
Risk to Reward: Very favorable, with upside potential exceeding +160%
🔹 Confirmation Tips:
Look for a clean breakout with increased volume and a candle body closing above the trendline. A breakout + retest scenario provides higher probability for trend continuation.
🔹 Strong Support Zone:
The price continues to respect a significant accumulation zone between 0.65 – 0.73 USDT, which has held as a major support area since September 2023. Multiple successful retests reinforce its strength.
🔹 Descending Trendline Breakout:
The descending resistance line (yellow trendline), connecting lower highs since December 2023, is being tested and appears to be breaking. A confirmed breakout could trigger a strong bullish reversal.
🔹 Potential Upside Targets (Based on Structure and Fibonacci Projections):
TP1: 0.81211 (breakout confirmation level)
TP2: 1.13111 (key horizontal resistance)
TP3: 1.56596 (technical extension zone)
TP4: 2.04123 – 2.14522 (major historical resistance and previous swing high)
🔹 Trade Idea:
Conservative Entry: Buy the retest near 0.73–0.75 USDT after breakout confirmation
Stop Loss: Below the key support zone, around 0.65 USDT
Risk to Reward: Very favorable, with upside potential exceeding +160%
🔹 Confirmation Tips:
Look for a clean breakout with increased volume and a candle body closing above the trendline. A breakout + retest scenario provides higher probability for trend continuation.
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✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
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.