Ondo has entered a corrective stage, but the technical structure remains rapidly. The price is now testing a high-conference support zone that the couch has triggered a fresh upwards thick.
Summary
- Ondo is rejected from $ 1.19 and is now trading towards the point of control of $ 0.83
- A dobble bottom pattern is being formed, with $ 1.19 as a neckline and $ 0.67 as the major support
- Improvement is seen as fast as the value blows high-timframe support at $ 0.67
Recent rejection of Ondo (Ondo) from high-timing resistance at $ 1.19 high-term improvement to the price area.
In the final check on Saturday, the token was trading at $ 0.87. The overall instinct remains creative as long as the price takes place at $ 0.83 above the point of action control (POC). This level now serves as a major technical field to view in the immediate period.
Major technical points
- POC at $ 0.83 as major support: 0.618 with Fibonacci Retress and Structure
- Double Bottom Potential: Still until the price $ 0.67 stays above high-time support
- Bulish infection: Current decline is a natural return from resistance to an upgrade
The loss of value is high. $ 1.19 was the first sign of weakness after rejection. The region had previous levels in the form of support, but the most recent test failed to get caught up. Despite this, the price is now reaching the point of control around $ 0.83, which is back from the inclusion of 0.618 fibonacci retracement by technical confectional. This creates a high-product area for supporting the region and potential inverted.
From a structural point of view, the value action of the ondo still fits with a very fast story. A double bottom formation seems to be deviloping with high-timing support at $ 0.67. The pattern remains intact until the value breaks that area. A successful bounce from the point of control watch is a high low, strongly strengthens the structure and keeps the doli bottom setup in the game.
A decisive push from the $ 0.83 area, espionage will indicate the demand to enter the market again if it is supported by volume. It can open the door for a retract and final break of $ 1.19 resistance level, which currently supports the neckline of dioble bottom formation. A breakout above this level activated the pattern and targeted high resistance at $ 1.56.
It is worth noting that the details, trend remains upwards until the high people in the market are to print. Recently, the celloff appears to be a natural pullback with a rapid ongoing atmosphere rather than a complete reversal. This makes the $ 0.83 region essentially important from a business and structural point of view.
what to expect
Ondo is currently trading towards the point of control of $ 0.83, a significant level for rapid continuity. If it holds support, the next step may be a breakout above $ 1.19, officially activates the double bottom. Catch failure will focus on $