Bitcoin dominance is at 60%, causing altcoins like ONDO and Chainlink to decline. ONDO is currently testing a critical demand zone and the 200-day EMA line, with the possibility of a bounceback or a drop below $1. The ONDO price trend has been declining since December, with a 42% drop in the past two months. There is a descending triangle pattern forming, indicating a bearish continuation and potential breakdown. The $1.19 demand zone and the 200-day EMA line are important levels for both bulls and bears. The declining RSI trend and consecutive bearish candles suggest a breakdown rally is likely. If there is a breakdown, the support levels to watch are $1 and $0.92. On the bullish side, a reversal attempt could challenge the overhead trendline near $1.37, but overall sentiment is bearish unless key resistance levels are reclaimed. Analysts anticipate a double-bottom reversal based on partnerships and adoption, but a strong reversal needs to be confirmed before bullish confidence is regained.



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