Since August, the shanzhai coins have already gone through two rounds of market action.
The first round was August 19–22, which was a broad-based rally—most coins rose along with it.
The second round was at the beginning of September, around the 6th and 7th, and it followed the approach of thematic rotation.
#ONDO is one of the few coins with a narrative, but the market hasn’t caught up. Currently, the candlestick chart has formed a very standard converging triangle consolidation pattern; once it breaks out in the chosen direction, the risk-reward ratio should be very good.
There’s only about 6% of room left before support at the lower edge of the triangle. The stop-loss distance is small, so it can be put on watch.
The first round was August 19–22, which was a broad-based rally—most coins rose along with it.
The second round was at the beginning of September, around the 6th and 7th, and it followed the approach of thematic rotation.
#ONDO is one of the few coins with a narrative, but the market hasn’t caught up. Currently, the candlestick chart has formed a very standard converging triangle consolidation pattern; once it breaks out in the chosen direction, the risk-reward ratio should be very good.
There’s only about 6% of room left before support at the lower edge of the triangle. The stop-loss distance is small, so it can be put on watch.
