- ONDO reclaims $1 support, breaking out of a long-term wedge, with targets set at $1.50 and $1.80.
- Price momentum strengthens, forming higher lows within a rising wedge, supported by breakout zones at $0.90 and $0.80.
- The short-term chart shows five consecutive green candles, signaling bullish control and a potential push toward key resistance levels.
ONDO has reclaimed the $1.00 psychological level, confirming bullish control after breaking out of a long-term downtrend. Analysts are tracking the next targets at $1.50 and $1.80 as the price trades inside a rising wedge structure.
Breakout Confirms Macro Shift in ONDO’s Price Structure
ONDO’s price has exited a months-long descending wedge and now trades above key reclaimed levels with bullish momentum. Chart structure reveals repeated bounce zones and strong reactions at horizontal support and resistance zones.
At this stage of the pattern, one bullish analyst has identified a long-term trendline from below $0.50 that remains intact. According to AltCryptoTalk, ONDO has consistently respected this upward trendline during both major corrections since October 2023. He also noted that the breakout above $1.00 confirmed the return of momentum, marking a clean rejection from the wedge’s lower boundary.
Two corrective channels, one from $1.40 to $0.70 and another from $2.20 to $0.80, both ended with sharp exits and upward expansion. The latest rising wedge structure began near $0.80 and now extends past $1.10, showing higher lows and trend continuity. Price currently consolidates just above $1.00, showing strength within the new wedge channel.
ONDO’s price behavior continues to reflect a cyclical uptrend, marked by support validation, channel breakouts, and rising lows. What’s more, historical resistance at $1.00 has now flipped into active support. This level remains critical for near-term trend continuation.
Short-Term Momentum Signals Higher Levels Ahead
ONDO’s short-term chart reveals a clean break above the descending red channel drawn from January to April. This breakout followed a strong daily close above the resistance trendline, confirming upside control.
Solberg Invest has provided additional insights, tracking targets at $1.50 and $1.80 based on earlier price zones. The first level, $1.50, previously acted as major support and is now the immediate resistance in ONDO’s path. The second level at $1.80 sits below ONDO’s all-time high and aligns with peak volume from earlier rallies.
Could this higher low above the $0.90 mark mark a directional shift toward a new expansion phase? The daily chart supports that view, showing a sharp bounce from sub-$1.00 lows. To build on this, ONDO has printed five green candles since its breakout, with daily closes near session highs.
In addition, there’s also a clean support structure underneath at $0.90 and $0.80. These zones reflect key breakout anchors if the price pulls back. Despite resistance ahead, ONDO trades above all major short-term trendlines with intact momentum signals.
