ONDO Forms Bullish Pattern Near $1.2 Resistance

ONDO, a prominent cryptocurrency, has recently formed a bullish double-bottom pattern on its chart, a technical formation that often signals a potential reversal in market sentiment. This pattern is characterized by two consecutive lows at approximately the same price level, followed by a breakout above the resistance level formed by the highs between the two lows. The double-bottom pattern is generally seen as a bullish indicator, suggesting that the asset may continue to rise.

Currently, ONDO is hovering near the neckline resistance of $1.2. If the price closes above this level on the daily chart, it could trigger a powerful upward move. Traders are closely watching this key resistance. If broken, the technical target suggests a potential 40% to 50% rally, taking ONDO toward the $1.7–$1.8 range. The double-bottom pattern often marks the end of a downtrend and the beginning of a bullish phase, especially when paired with strong trading volume and market sentiment.

Utility tokens across the crypto market are experiencing renewed momentum. As capital flows back into these assets, ONDO could benefit from the broader trend. Projects with clear use cases and strong fundamentals are gaining traction, and ONDO fits that profile. With bullish sentiment building and technical indicators aligning, the market setup favors buyers. Momentum indicators such as RSI and MACD on higher timeframes are beginning to lean bullish, reinforcing the case for a possible breakout.

The $1.2 resistance acts as the neckline of the double-bottom structure. A decisive daily close above this level would validate the breakout, potentially opening the doors for a sharp rally. Traders and investors should keep a close eye on volume spikes, as they often confirm the strength of such moves. While the crypto market remains volatile, patterns like this help traders anticipate price direction. If ONDO can flip $1.2 into support, it could join the list of utility tokens currently making strong gains.