A naukri.com initiative
TronWeekly
10h
189
Image Credit: TronWeekly
ONDO Price Holds Strong Support, Eyes Bullish Breakout Toward $3
- ONDO is currently trading at $0.7802, marking a 3.45% increase over the last 24 hours.
- Despite a weekly drop of 8.30%, bullish signs suggest a potential recovery for ONDO.
- Key support lies at the $0.7428 VWAP level, crucial for maintaining ONDO's bullish structure.
- Holding this support may pave the way for a long-term price target of approximately $3.
- ONDO has recently experienced notable volatility but with positive long-term indicators.
- The token's market value is $0.7802, with a trading volume of $169.63 million in the last 24 hours and a market cap of $2.46 billion.
- Technically, the focus is on ONDO hovering above the critical $0.7428 support level, aligning with the Volume Weighted Average Price (VWAP) indicator.
- Traders are closely watching if ONDO can sustain this level, known historically for catalyzing price breakouts.
- Recent candlestick patterns near the VWAP indicate a pivotal moment with potential for a reversal or increased buying activity.
- Maintaining position above the VWAP is crucial for ONDO's upward momentum and a potential breakout towards $3.
- Achieving the $3 target hinges on sustaining VWAP support and strong trading volume to confirm bullish trends.
- Market sentiment remains cautiously optimistic as ONDO navigates the critical VWAP support level for future price gains.
Read Full Article
11 Likes
For uninterrupted reading, download the app