ONDO Surges 2% to $0.8172, Eyes Breakout Above $0.85 Resistance

ONDO, a prominent altcoin, is currently trading at $0.8172, marking a nearly 2% increase for the day. The price movement has pushed into a critical resistance zone between $0.81 and $0.85, an area that traders are closely monitoring. This zone is significant as it could determine the next directional move for ONDO.

The recent price action of ONDO has been notably bullish, with the token recording a 5.11% gain for the week. This performance stands out in a market where most major digital currencies have remained stable. The token's price has shown intrinsic strength, closing at $0.8049 with a 3.26% increase in the last 24 hours. The market capitalization of ONDO has reached $2.54 billion, reflecting its growing popularity among mid-cap assets.

Technical analysis indicates a bullish structure for ONDO, with potential for a breakout. The 4-hour chart shows the price above its 20-period simple moving average at $0.790 and near the upper Bollinger Band at $0.809. The Relative Strength Index (RSI) at 61.14 suggests growing bullish sentiment, while the Moving Average Convergence Divergence (MACD) has recorded a bullish crossover, indicating increasing buying interest. Band tightening implies that a breakout could occur soon.

The weekly chart of ONDO displays a pattern of volatility, consolidation, and recovery. Initially, there was a retracement down to a low of $0.77 after starting at $0.81, indicating initial selling interest. However, this decline was followed by sideways consolidation in the $0.77 to $0.78 range, which typically reflects buying interest or accumulation. The price rebounded above the $0.80 barrier mid-week and retested resistance at $0.81. Although there was some selling at this level, stability held within the $0.805 to $0.810 range. Higher volume on the up-move supported the rally, but recent sessions have shown cautious optimism close to resistance.

Looking at the ONDO chart structure, things are lining up for a potential turnaround. A steep descending trendline from the previous downtrend has already been broken. In its place, a rising blue trendline is forming beneath the current price, and it shows ONDO is printing higher lows. That usually signals accumulation, buyers stepping in more aggressively each time price dips. But to really confirm a reversal, ONDO price needs to break through this resistance zone and prove that bulls are in control.

Momentum has been strong, but the Stochastic RSI is now in overbought territory. Both lines are above 90, which often means a short-term cooldown might be around the corner. This doesn’t necessarily mean a big drop, but some sideways movement or a dip before the next move up wouldn’t be surprising. Volume has also picked up since ONDO price bounced near $0.60. That buying interest helped lift the price and could provide the fuel needed to push higher, as long as bulls stay active.

If ONDO successfully breaks above the $0.81 resistance, price targets could reach $0.835 and $0.860, with a strong push-through potentially reaching $0.880. Conversely, failure to remain above $0.790 could lead to a retest of support in the $0.770 region. ONDO continues to stand out as a technically strong performer in a hesitant market, with traders closely watching its next move.

In a tweet, CryptoED pointed out that if ONDO price can break above the current range and flip it into support, it might open the path toward a $3 target. This level is still far off, but the first step is clear: reclaim $0.85 and turn it into support. If that happens, traders may start eyeing higher zones like $1.10 and $1.50. But for now, all eyes are on this resistance zone. Whether ONDO price breaks out or pulls back, the next few candles will tell the story.