CandleFocus

Is ONDO Ready for a Bullish Breakout or a Deeper Correction?

Author: Content Editor
The cryptocurrency ONDO has experienced a 3.41% increase in the past 24 hours and is currently trading at $1.27. Its market capitalization is $1.76 billion, with a trading volume of $197.79 million. The total circulating supply of ONDO is 1.38 billion tokens, contributing to a fully diluted valuation of $12.72 billion. The chart indicates a resistance level at $1.30, which if broken, could lead to a price increase towards $1.35. On the downside, $1.25 serves as immediate support, with a potential bearish shift if the price falls below this level. The Relative Strength Index suggests a slightly oversold market, and the Chaikin Money Flow indicates capital outflow from ONDO. The moving averages present a bearish picture, with the short-term moving average below the long-term moving average. The narrowing gap between the support and resistance levels suggests potential for a breakout in either direction. ONDO must break above $1.30 to maintain upward momentum or breach below $1.25 could lead to further declines.

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