ONDO Nears Breakout Point with Possible 47% Price Swing as Market Awaits Move

• ONDO Hovers at $1.12
  ONDO is currently trading at $1.12, showing a potential 47% price movement ahead as noted by market analyst Ali (@ali_charts). The analysis highlights a descending triangle pattern on the four-hour chart indicating forthcoming volatility.

• Chart Analysis
  The chart illustrates buyers defending the support at $1.12 while sellers may push for a breakout. A rise above $1.35 could propel the price to $1.80, while a drop below $1.12 might lead to the $0.70 range.

Descending Triangle Formation Indicates Imminent Shift

Since December 2024, ONDO’s price has formed a descending triangle characterized by lower highs and flat support at $1.12. This triangle’s apex suggests that a breakout is due as price compression intensifies.

Previously, ONDO reached nearly $2.40 before encountering a 47% drop. Market analyst Ali predicts a similar movement following the breakout, potentially targeting the $1.80–$2.00 zone if it breaks upward. Conversely, a decline may test the $0.60–$0.70 range.

Critical Support and Market Anticipation

Support at $1.12 remains crucial, with repeated tests indicating indecisiveness. A drop below this level could signify increased selling pressure, while a breakout above $1.35 might shift market sentiment towards a recovery.

Divided Sentiment Before Breakout

Market sentiment is mixed, with traders divided over whether there will be an upward reversal or continued decline. A significant volume spike during any breakout will be vital for confirming the move’s validity. As ONDO approaches this critical moment, the market’s next steps will reveal the potential direction of the token’s price movements.