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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Penafian
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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%
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.