ONDO Forms Descending Broadening Wedge, Eyes $0.40 Breakout
ONDO is drawing trader attention after carving a descending broadening wedge on 4-hour charts—a pattern often preceding bullish reversals. Analyst ZAYK Charts notes the formation signals growing volatility, with lower highs and lows reflecting market indecision. A confirmed breakout above resistance could propel the token toward $0.40, though sustained volume is critical to validate momentum.
Technical indicators lean bullish: the RSI hovers near 70, suggesting strong buying pressure. Price action shows higher lows since a recent dip, with $0.28 now acting as near-term resistance. Holding above $0.26 support WOULD reinforce upside potential, while rejection may trigger consolidation before another leg up.
Crypto markets remain volatile, but ONDO's structure hints at accumulation. Traders await confirmation—either a decisive wedge breakout or further range-bound action.
