$ONDO is looking interesting here.
Price is currently around $0.493 and sitting just below the $0.50 psychological level. After the strong move from around $0.32 to $0.60, ONDO has entered a consolidation phase rather than giving back the entire rally.
The structure still looks bullish on the daily chart. Price remains above the 30 MA at $0.431 and the 200 MA at $0.348. RSI is around 57 which shows there is still room for another move higher without being heavily overbought.
The only concern is the MACD. Momentum has cooled down after the recent rally and the histogram is approaching the zero line.
For me the key level is $0.50.
A daily close above $0.51 could open the way toward $0.55 and then the previous high around $0.60.
If $0.47 to $0.48 holds as support, the bullish structure remains intact.
I’m watching ONDO closely here. A clean breakout could get interesting.
Price is currently around $0.493 and sitting just below the $0.50 psychological level. After the strong move from around $0.32 to $0.60, ONDO has entered a consolidation phase rather than giving back the entire rally.
The structure still looks bullish on the daily chart. Price remains above the 30 MA at $0.431 and the 200 MA at $0.348. RSI is around 57 which shows there is still room for another move higher without being heavily overbought.
The only concern is the MACD. Momentum has cooled down after the recent rally and the histogram is approaching the zero line.
For me the key level is $0.50.
A daily close above $0.51 could open the way toward $0.55 and then the previous high around $0.60.
If $0.47 to $0.48 holds as support, the bullish structure remains intact.
I’m watching ONDO closely here. A clean breakout could get interesting.
