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In this analysis, I’ll be reviewing Ondo, one of the RWA projects, currently ranked 32nd on CoinMarketCap with a market cap of $3.04 billion.
📅 Daily Timeframe
As seen in the daily timeframe, a downtrend has formed, extending down to the $0.7845 low. Currently, with declining volume, the price has entered a consolidation and corrective phase.
💥 If the price manages to stabilize below $0.7845, the next bearish leg could begin. Therefore, upon breaking this level and confirming a trigger in lower timeframes, we can enter a position.
✨ In case of an upward correction, the first resistance zone will be at $0.9429, and if the price corrects further, breaking $1.1919 could confirm a trend reversal.
🛒 For spot buying, the risky trigger is $1.1919, while the main triggers are $1.6073 and $2.0434. If you have already purchased this coin, you can set your stop loss at $0.7845 in case of a breakdown. The RSI entering the oversold zone could serve as a momentum confirmation.
⌛️ 4-Hour Timeframe
In the 4-hour timeframe, a range box has formed between the $0.7845 and $0.8875 levels.
✔️ Buyers have shown stronger volume and momentum within this range. If $0.8875 is broken, you can enter a long position.
🔽 For a short position, if $0.7845—a significant level on the daily timeframe as well—breaks, you can enter. As mentioned earlier, breaking this level could trigger the next bearish leg.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’ll be reviewing Ondo, one of the RWA projects, currently ranked 32nd on CoinMarketCap with a market cap of $3.04 billion.
📅 Daily Timeframe
As seen in the daily timeframe, a downtrend has formed, extending down to the $0.7845 low. Currently, with declining volume, the price has entered a consolidation and corrective phase.
💥 If the price manages to stabilize below $0.7845, the next bearish leg could begin. Therefore, upon breaking this level and confirming a trigger in lower timeframes, we can enter a position.
✨ In case of an upward correction, the first resistance zone will be at $0.9429, and if the price corrects further, breaking $1.1919 could confirm a trend reversal.
🛒 For spot buying, the risky trigger is $1.1919, while the main triggers are $1.6073 and $2.0434. If you have already purchased this coin, you can set your stop loss at $0.7845 in case of a breakdown. The RSI entering the oversold zone could serve as a momentum confirmation.
⌛️ 4-Hour Timeframe
In the 4-hour timeframe, a range box has formed between the $0.7845 and $0.8875 levels.
✔️ Buyers have shown stronger volume and momentum within this range. If $0.8875 is broken, you can enter a long position.
🔽 For a short position, if $0.7845—a significant level on the daily timeframe as well—breaks, you can enter. As mentioned earlier, breaking this level could trigger the next bearish leg.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
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.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
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.