Ondo Ready For $3
Price Action
The main trend shows a significant rise from a low of around $0.35 to reach over $1.20, with the price currently hovering around $1.24. The next major resistance based on the Fibonacci Extension is around $1.95 (1.618) and $2.80 (2.618).
The price formed an ascending triangle pattern before breaking out upwards, indicating bullish strength. The pattern is supported by the dynamic support line of the trendline and breakout at around $1.23.
Indicator
- The price is above the 21 EMA, indicating strong short-term bullish momentum.
The 21 EMA also acts as additional dynamic support, currently located around $1.05.
- Stochastic RSI is at a medium level, neither overbought nor oversold, which indicates that there is still room for further increases before a potential correction.
Price Target
Using Fibonacci Extension, the next upside targets are at level 1,618 (around $1.95) and level 2,618 (around $2.80). These targets are based on previous movements measured from the last breakout of ascending triangle.
Overall market sentiment is bullish with prices consistently making higher highs and higher lows, indicating investor confidence in price moves higher. In conclusion, the Ondo chart shows strong bullish potential.
The main trend shows a significant rise from a low of around $0.35 to reach over $1.20, with the price currently hovering around $1.24. The next major resistance based on the Fibonacci Extension is around $1.95 (1.618) and $2.80 (2.618).
The price formed an ascending triangle pattern before breaking out upwards, indicating bullish strength. The pattern is supported by the dynamic support line of the trendline and breakout at around $1.23.
Indicator
- The price is above the 21 EMA, indicating strong short-term bullish momentum.
The 21 EMA also acts as additional dynamic support, currently located around $1.05.
- Stochastic RSI is at a medium level, neither overbought nor oversold, which indicates that there is still room for further increases before a potential correction.
Price Target
Using Fibonacci Extension, the next upside targets are at level 1,618 (around $1.95) and level 2,618 (around $2.80). These targets are based on previous movements measured from the last breakout of ascending triangle.
Overall market sentiment is bullish with prices consistently making higher highs and higher lows, indicating investor confidence in price moves higher. In conclusion, the Ondo chart shows strong bullish potential.
Disclaimer
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