ONDO Token Surges Toward $1.10: Bullish Breakout Sparks Rally After 20% Weekly Gains
Another day, another crypto breakout—but this one's got teeth. ONDO just sliced through resistance like a hot knife through institutional FUD, painting charts green while TradFi bankers scramble to explain 'market dynamics.'
The Setup:
Price coiled tighter than a VC's exit strategy before erupting past key levels. That $1.10 target? Suddenly in play after a 20% weekly pump.
Why It Matters:
Liquidity's flooding in faster than a meme coin rug pull reverses—except this time, the fundamentals might actually justify the hype (we said *might*).
The Punchline:
Whether this holds or becomes another 'buy the rumor, sell the news' circus depends entirely on whether bulls can outlast the profit-takers. Place your bets—just maybe hedge with some actual assets this time.
- ONDO surges 17.88% over a week, a strong bullish momentum indicator.
- A falling wedge breakout positioned the token for further upward movement.
- Trading volume skyrocketed more than 63% within 24 hours, confirming bullish sentiment.
ONDO has been a standout while the broader cryptocurrency sector takes a backseat in the current greed-driven atmosphere. In the past week, the token has marked a spectacular 17.88% increase, registering a brisk 7.84% increase over the past 24 hours.
The surge indicates rising investor sentiment and a new bout of bullish sentiment. At the moment, ONDO is trading at $0.9148, while the 24-hour volume has risen dramatically to a staggering $232.57 million, a rapid 63.65% surge.
Additionally, the market cap is valued at $2.89 billion, which places the token as a strong mid-cap token, as of now.
ONDO Token Breaks Resistance, Momentum Gains Strength
Initially, ONDO’s price movement was contained within a range, with low volume to reflect a consolidation process within the marketplace. But all of that was about to change.
A slight rise and subsequent dip led the way to a larger move up, as the token began forming higher lows and higher highs, a classic buy setup. As the momentum continued, the major resistance level at $0.825 could be breached by Ondo with rising volume.
Such a breakout pushed the token through the level of $0.90, with prices rising up to $0.925, a level that now acts as short-term resistance. The token now seems to consolidate around local highs, while the continuous volume within the market reflects the continuous buying interest.
Falling Wedge Breakout Supports Target Toward $1.10
Adding to the bullish outlook, analysts at ZAYK Charts identified a falling wedge breakout of the 2-day ONDO chart.
Defined by the capability of forecasting upcoming trend reversals, the falling wedge occurs when two converging trendlines are depicted: a down-sloping trendline through lower highs and an upward-sloping trendline through higher lows.
The breakout occurred NEAR the $0.8433 level, a position that was highlighted as a prime bullish indicator. Importantly, the falling wedge breakouts are effective roughly 62% of the time, specifically when they are paired with surging volume.
In ONDO’s case, a strong volume surge at the breakout point lends credibility to the signal. Based on the history of the price action and the measured size of the wedge, the analysts believe ONDO could trend into the $1.05 to $1.10 range over the next several days.
Also, the technical strength has solid foundations. ONDO Finance got a funding injection of $35 million last year, which continues to support long-term investor hopes.
As the token stabilizes at higher levels, the traders are pinning their sights on entry points with a recommended stop-loss below the level of $0.80 to regulate the risk of the downside while targeting the aims above the level of $1.
This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
