- Ondo crypto bulls fought to defend the $2 mark, but price could be falling toward $1.9 in the coming days.
- On the higher timeframes, ONDO maintained a bullish outlook and could climb to $3.
As a seasoned crypto investor with over a decade of experience in this dynamic market, I’ve learned to navigate through the ups and downs with a blend of patience and calculated risk-taking. The recent performance of Ondo [ONDO] has been intriguing, to say the least.
Over the last 24 hours, the value of Ondo [ONDO] has dropped by approximately 5.44%, and there’s been a 32% decrease in its daily trading volume. The recent price movements on lower timeframes indicate that the $1.9 area serves as a significant support level for this digital currency.
The 1-day chart outlined a bullish structure and dips to $1.67-$1.8 were for buying.
Ondo crypto challenges psychological $2
Following a significant drop to $1.3 on December 9th, ONDO showed a swift recovery. The market conditions and pattern suggested optimism, as demonstrated by the formation of higher lows and the Awesome Oscillator consistently staying above zero, indicating positive momentum.
Over the last two days, the bulls supporting ONDO have faced a setback, with prices peaking at $2.146 before retreating. However, the Chaikin Money Flow (CMF) indicates a robust influx of capital into the market, currently standing at +0.16, suggesting a bullish sentiment in the higher timeframes.
Key levels to keep an eye on for the upcoming week are at $0.5 and $1.48, with these points currently sitting quite distant from today’s market values. It’s possible that we may revisit the $1.72 region in the near future as a potential demand zone. The bounce back from $1.3 was employed to establish Fibonacci levels.
Beyond $2.14, the $2.34 and $2.66 levels were the next bullish targets for Ondo crypto.
Will the liquidity below $1.8 pull prices toward it?
Over a two-week period, we observed three significant groups of liquidity proximity: one at $1.67, another at $1.77, and the third at $2.1. Although the $2.11 area was slightly nearer, the $1.67 zone had substantially more levels for liquidation.
Is your portfolio green? Check the Ondo Profit Calculator
In simpler terms, if the strong magnetic field persists, it’s possible that Ondo crypto might drop towards the $1.7 area of high demand in the near future. On smaller timeframes, the $1.8 region is also significant as it represents a potential area for price rebound due to its liquidity concentration.
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2024-12-18 00:07