$ONDO Decision zone: breakout, consolidation or correction?
🔥 The short term is highly volatile. ONDO is trading around $0.529, while the reported intraday range has been approximately $0.507 to $0.605. That means we are in an area where price movements can be quite sharp. 🤔 $0.50–$0.52 is the technical zone I would watch. If that area continues to hold as support, the recovery structure remains open. A clear loss of $0.50 would change the short-term outlook and increase the risk of searching for lower supports. An analysis published today also identifies $0.52 as relevant support. 💥 $0.60–$0.61 is the decisive zone to the upside. ONDO has encountered pressure around that level. A breakout accompanied by volume would be technically different from simply touching $0.60 and then pulling back.
Despite the market’s volatilities, #PROM may present a bullish scenario this week after this correction scenario between 5.3 and 5.6 USD. Let’s hope it breaks 7.5 and 8.2.