ONDO Bullish Flag Breakout Repeats Rally Pattern Targets $2.00

Ondo (ONDO) has recently experienced a bullish flag breakout, echoing the same price pattern that preceded a prior rally. This technical structure, characterized by a descending consolidation channel followed by a sharp upward breakout, is now reoccurring, with traders and analysts setting a key price target at $2.00 [1]. The current price action suggests a continuation of the bullish momentum that has propelled ONDO to a 12.96% increase over the past week, despite a 1.12% decline in the last 24 hours [1].

According to Jonathan Carter, a noted crypto analyst on X, the current breakout mirrors a prior bullish cycle almost identically. He highlighted the fractal nature of the pattern and emphasized the significance of the $1.14 level as a near-term confirmation of continued strength. Once this level is reclaimed, the next key resistance is expected to be $1.50, a historically significant zone due to previous liquidity concentration [1]. If the momentum holds, ONDO could potentially reach $2.00, aligning with the upper boundary of its long-term resistance range [1].

The breakout is supported by growing volume and stable RSI levels, indicating accumulation rather than distribution. These technical indicators suggest that smart money is beginning to position ahead of a potential sharp upward move. Carter described the current setup as a “textbook bullish flag breakout,” reinforcing the idea that traders should closely monitor whether the accumulation phase can build enough strength to push the price beyond the next resistance levels [1].

Ondo is currently trading at $1.03 with a 24-hour trading volume of $175 million, reflecting active interest and positioning. The token’s price trajectory has been influenced by broader market conditions, with the Trump Fear and Greed Index indicating heightened greed in the crypto space, particularly during bull phases [2]. This environment has encouraged risk-on behavior, with ONDO being one of the tokens benefiting from the current momentum.

While the $2.00 target represents a potential price level based on technical analysis, it is important to recognize that this is a forecast rather than an assurance of future performance. Traders should consider additional market factors, including macroeconomic conditions and overall sentiment, when making investment decisions.

As the market remains highly volatile, investors are advised to monitor price movements and technical indicators closely while managing their exposure accordingly. ONDO’s recent breakout presents a compelling opportunity for those aligned with the bullish narrative, but it also serves as a reminder of the importance of disciplined and informed trading practices.

Sources:

[1] title: ONDO Bullish Flag Breakout Targets $2.00 as Rally Pattern Repeats

url: https://cryptofrontnews.com/ondo-bullish-flag-breakout-targets-2-00-as-rally-pattern-repeats/

[2] title: Trump Fear and Greed Index | Multiple Timeframes

url: https://cfgi.io/trump-fear-greed-index/