ONDO has officially broken out above the neckline after months of consolidation. The structure reflects a classic inverse head & shoulders pattern, signaling a strong bullish trend reversal.🔸 Support at $0.92 – $0.85:
This zone previously served as a key resistance and is now acting as local support. while $0.54 is the ultimate invalidation level for bulls.
🔸 Upside Target: $2.00 – $2.50
With the breakout confirmed, the next logical targets lie near previous highs. If the retest holds, we could see a steady move toward $2.00 and potentially $2.50 in the coming weeks.
🔸 Risk Level at $0.54:
A weekly close below $0.54 would put the breakout in question. New entries should use a tight stop loss below this zone to manage risk effectively.
🔸 Outlook:
✅ Already holding? Hold strong and trail stops as price moves up.
🔄 Missed entry? A clean retest around $0.85 – $0.92 would be a high-probability re-entry zone.
📈 Watch for increasing volume and bullish structure on the retest to confirm continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.