ONDO Holds Critical Support at $0.83 as Bulls Eye Potential Rebound

ONDO is undergoing a corrective phase following its rejection at the $1.19 resistance level, now stabilizing above the crucial point of control at $0.83. Maintaining this level—which aligns with the 0.618 Fibonacci retracement—could set the stage for another upward move.

The emerging double bottom pattern remains intact as long as the high-timeframe support at $0.67 holds. Market structure indicates this pullback is a healthy retracement within a larger uptrend, with Saturday's price of $0.87 reflecting controlled profit-taking rather than bearish sentiment.

Traders are closely watching the $0.83 POC as a key indicator of bullish momentum. A breakdown below this level WOULD negate the current technical outlook, while a successful hold could pave the way for a retest of the $1.19 neckline.