$ONDO has finally pushed through the descending 4H trendline, but the breakout still needs to prove itself. Price is now sitting around the previous reaction area, so I’m watching how the market behaves here rather than assuming the move will continue immediately. The recent bounce from the lower demand area, combined with the improvement in momentum, gives buyers a reasonable structure to work with. A strong hold above the broken trendline would strengthen the continuation setup.
The important part now is the demand zone underneath price. As long as that area continues to hold, I’d keep the bullish path toward the higher resistance levels shown on the chart. A rejection here can simply lead to a retest of the breakout before continuation. But if price loses the demand zone with strong bearish displacement and starts accepting below it, the bullish scenario is no longer valid.
The important part now is the demand zone underneath price. As long as that area continues to hold, I’d keep the bullish path toward the higher resistance levels shown on the chart. A rejection here can simply lead to a retest of the breakout before continuation. But if price loses the demand zone with strong bearish displacement and starts accepting below it, the bullish scenario is no longer valid.
