ONDO/USDT Falling Wedge in Play Is it Set to Soar?
Pattern
The chart is forming a Falling Wedge pattern, which is typically a bullish reversal structure.
Key Levels to Watch
Support Zone
Lower trendline support around $1.05.
Strong horizontal support near $1.00, making this a potential entry point for long positions.
Resistance and Target
If a breakout occurs, the expected upside target is $1.60+, with further momentum possibly driving the price even higher.
Insights
The falling wedge narrows as price action consolidates, indicating reduced bearish strength.
A breakout above the upper trendline would confirm a bullish move.
Trading Strategy
Look for confirmation of breakout or bounce from $1.05 or $1.00 before entering.
Set stops below $1.00 to manage risk.
Potential profit taking levels could be around $1.60 or higher depending on market momentum.
This chart signals a promising bullish setup. Monitor closely for breakout confirmation to capitalize on the potential upward move.
The chart is forming a Falling Wedge pattern, which is typically a bullish reversal structure.
Key Levels to Watch
Support Zone
Lower trendline support around $1.05.
Strong horizontal support near $1.00, making this a potential entry point for long positions.
Resistance and Target
If a breakout occurs, the expected upside target is $1.60+, with further momentum possibly driving the price even higher.
Insights
The falling wedge narrows as price action consolidates, indicating reduced bearish strength.
A breakout above the upper trendline would confirm a bullish move.
Trading Strategy
Look for confirmation of breakout or bounce from $1.05 or $1.00 before entering.
Set stops below $1.00 to manage risk.
Potential profit taking levels could be around $1.60 or higher depending on market momentum.
This chart signals a promising bullish setup. Monitor closely for breakout confirmation to capitalize on the potential upward move.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.