A favorable risk-reward setup is emerging. $ONDO ’s hourly structure is confirming a path lower. Price is below both the EMA50 and EMA200, with no sign of the bearish moving-average alignment reversing. The 15-minute ADX is holding near 27, and sellers are still setting the pace. More importantly, it tracks Bitcoin closely when Bitcoin weakens, with a correlation as high as 0.86, leaving it little ability to hold up on its own. The current price is nearly 3.9 ATR away from the hourly EMA50, so a short-term bounce is possible. That’s why entries must be taken within the range—don’t chase.
A bounce into the resistance zone is where bears can step back in, not a trend reversal. The daily chart may be choppy, but the hourly direction has already given us the answer. The logic for this short trade holds; now let the structure play out.
🔴 Trade direction: Short
📍 Entry zone: 0.4258443 – 0.4274740
🛑 Stop loss: 0.4435786
🎯 Take profit 1: 0.4139696
🎯 Take profit 2: 0.4055098
🎯 Take profit 3: 0.3928202
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the ebb and flow of gains and losses.
#ONDO
Click below to trade 👇
A bounce into the resistance zone is where bears can step back in, not a trend reversal. The daily chart may be choppy, but the hourly direction has already given us the answer. The logic for this short trade holds; now let the structure play out.
🔴 Trade direction: Short
📍 Entry zone: 0.4258443 – 0.4274740
🛑 Stop loss: 0.4435786
🎯 Take profit 1: 0.4139696
🎯 Take profit 2: 0.4055098
🎯 Take profit 3: 0.3928202
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the ebb and flow of gains and losses.
#ONDO
Click below to trade 👇