๐ฏ $ONDO is on the most important Fibonacci zone in this chart
$ONDO is currently being traded within the main Fibonacci correction zone 0.5โ0.618.
That zone lies in the range of $0.467โ$0.501, and it is exactly the area where I want to see buyers defending the structure.
If $ONDO controls this zone, the first key level that must be reclaimed is around $0.61โ$0.62.
That zone almost perfectly matches the Fibonacci 1.0 level and a major horizontal resistance.
On top of that, things get even more interesting.
The Fibonacci 1.618 extension level is around $0.79.
And the biggest target on this chart is the $1.06โ$1.08 area, where the major horizontal resistance and the Fibonacci 2.618 extension overlap almost completely.
The plan Iโm following:
Support between $0.467 and $0.501
Break through the $0.61โ$0.62 level
$0.79 next extension level
Major target between $1.06 and $1.08
If it continues to defend this Fibonacci support zone, the entire structure will stay alive.
$ONDO is currently being traded within the main Fibonacci correction zone 0.5โ0.618.
That zone lies in the range of $0.467โ$0.501, and it is exactly the area where I want to see buyers defending the structure.
If $ONDO controls this zone, the first key level that must be reclaimed is around $0.61โ$0.62.
That zone almost perfectly matches the Fibonacci 1.0 level and a major horizontal resistance.
On top of that, things get even more interesting.
The Fibonacci 1.618 extension level is around $0.79.
And the biggest target on this chart is the $1.06โ$1.08 area, where the major horizontal resistance and the Fibonacci 2.618 extension overlap almost completely.
The plan Iโm following:
Support between $0.467 and $0.501
Break through the $0.61โ$0.62 level
$0.79 next extension level
Major target between $1.06 and $1.08
If it continues to defend this Fibonacci support zone, the entire structure will stay alive.
