ONDO at Critical Technical Juncture: 4-Month Downtrend Meets Key Support
ONDO is hovering at a pivotal technical juncture, testing a support zone that has historically triggered rebounds. The token's three-day chart reveals a stubborn downtrend channel, with each rally attempt stifled by immediate selling pressure. Now trading NEAR a multi-month demand base, the market is watching for signs of exhaustion in the bearish momentum.
The current price action mirrors past inflection points where long-term buyers stepped in. A sustained hold above this level could fracture the downtrend, but failure risks another leg down. Trading volume patterns suggest weakening selling pressure—a potential precursor to a reversal.
Regulatory developments add another LAYER of significance to this technical setup. Market participants are weighing whether ONDO's fundamental positioning can override the prevailing technical weakness.