- Ondo crypto bulls fought to defend the $2 mark, but price could be falling toward $1.9 in the coming days.
- On the higher timeframes, ONDO maintained a bullish outlook and could climb to $3.
Ondo [ONDO] has shed 5.44% over the past 24 hours and its daily trading volume has fallen 32%. The lower timeframe price action outlined the $1.9 zone as a key support zone.
The 1-day chart outlined a bullish structure and dips to $1.67-$1.8 were for buying.
Ondo crypto challenges psychological $2
Source: ONDO/USDT on TradingView
After the deep retracement to $1.3 on the 9th of December, ONDO has bounced higher quickly. The momentum and market structure were bullish, evidenced by the higher lows and the Awesome Oscillator being well above zero.
A local high at $2.146 was formed and over the past 48 hours the ONDO bulls have been pushed backward. However the CMF was at +0.16 to reflect strong capital inflow to the market. This supported the idea that the higher timeframe bias was bullish.
The weekly significant levels to watch are $0.5 and $1.48, both of which were relatively far away from current market prices. In the coming days, the $1.72 area could be retested as a demand zone. The recovery from $1.3 was used to draw a set of Fibonacci levels.
Beyond $2.14, the $2.34 and $2.66 levels were the next bullish targets for Ondo crypto.
