Crypto – ONDO status update

Weekly timeframe

Ondo has been very popular and has seen a good growth for some time.

We had two big imbalances which were resolved and the price went higher every time. As with all the investments, we shouldn’t try to predict the end of a trend, but follow it until it ends. Therefore, I’m still bullish for now.

On monthly, last twizzer was a twizzer bottom, so we are still bullish on it. As for the resistance, if we close a weekly candle above 1.25$ we should see further movement. As the candle hasn’t closed yet, all we can see now is a retrace to close the current imbalance (which can be better seen on the weekly timeframe).

Another thing we can see on weekly is that the last candle went to grab some liquidity from the previous week close, and then shoot up – as long as we keep the price above 1$, we are still bullish.

Daily timeframe

On the daily, we could be in a wedge-type correction that would finish in the price going towards 2$.

Currently we got rejected from 0.5-0618 range, and we are probably going to retest the support levels soon.

The support levels correspond to the targets for C, and it will be healthy for the market to retrace back to them for a confirmation that the price will continue to push higher.

By admin