$ONDO 6.4% drop and liquidity is dry... Are we looking at a healthy correction or the start of a bearish trend? š
The current price is $0.3267 with a trading volume ratio of only 0.03, which indicates the absence of major buyers and weak conviction in the current decline. The move looks like a purely technical correction after the last expansion, supported by the price staying above the 50-day moving average on the daily timeframe.
Most likely scenario: a technical rebound toward $0.345 and then $0.36, provided volume is regained above the average. A break below $0.315 would invalidate the bullish outlook.
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$ONDO
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The current price is $0.3267 with a trading volume ratio of only 0.03, which indicates the absence of major buyers and weak conviction in the current decline. The move looks like a purely technical correction after the last expansion, supported by the price staying above the 50-day moving average on the daily timeframe.
Most likely scenario: a technical rebound toward $0.345 and then $0.36, provided volume is regained above the average. A break below $0.315 would invalidate the bullish outlook.
Follow us for precise, moment-by-moment analysis šÆ
$ONDO
This content is not investment adviceādo your own research (DYOR)
