ONDO Tests Critical Support Zone as Analysts Watch for Potential 24x Rally Setup
ONDO, the embattled digital asset, has carved a precarious path toward what analysts now identify as a make-or-break support zone. After months of relentless decline from its $1+ glory days, the token hovers near $0.25—a level that has historically triggered violent reversals. Technical charts show the asset bouncing off Fibonacci's 0.786 retracement at $0.29 before probing the $0.17-$0.21 demand zone, where algorithmic traders typically swarm.
Crypto Patel, a noted market observer, flags this juncture as a potential inflection point. 'When assets bleed this hard into value territory, smart money accumulates,' he noted on X, referencing WLFI's recent 342,000 ONDO purchase at $1.374—a position now underwater by 82%. The token's price action mirrors classic capitulation patterns: lower highs, lower lows, and now, a flirtation with levels that could either spark a dead-cat bounce or fuel a 24x recovery.
