ONDOUSDT Is a Major Reversal Coming or Will ONDO Drop Further?

4 Sep

Yello, Paradisers! Could #ONDOUSDT be setting up for a massive rebound, or is it about to plunge even further? Let’s dive into the chart analysis to find out!

💎#ONDO's price is currently showing signs of a potential downturn, with the likelihood of revisiting the strong demand zone between $0.507 and $0.393. Historically, this demand zone has triggered a significant rebound, with prices surging 60% in just a few days the last time it reached these levels. This suggests a high probability of a similar rebound once ONDO tests this area again.

💎However, there’s a chance ONDO might break out of the descending channel before it revisits this demand zone. If that happens, we could see an upward movement towards our target major resistance levels, bypassing the deeper retracement.

💎If ONDO revisits the demand zone at $0.507 - $0.393, we could see another strong rebound and a potential breakout of the descending channel, leading to significant upward momentum.
Bearish Scenario:

💎The bullish outlook becomes invalid if ONDO fails to rebound from the demand zone, particularly if a daily candle closes below $0.393. In this case, the potential for further downward movement becomes very real, and we could see a deeper dip beyond current expectations.

Stay focused, patient, and disciplined, Paradisers.

MyCryptoParadise
iFeel the success🌴