MACD shows a bearish cross due to the dip ONDO faced

6월 19일

An analyst, Cryptochimpanz, optimistically tweets on the X platform that as long as the ONDO Finance price stays and holds above the $1.050 level on the daily chart, the price could witness 2x gains toward the $2.0 Mark.
On analyzing the ONDO daily chart with reference to the Cryptochimpanz optimistic tweet, the price trades above 50-day EMA. It has been following the upward parallel channel since its inception.

Overall, looking at the 6-month performance, in accordance with the CMP, the price has surged 297.87%, and the 3-month performance showed a surge of 81.56%. Despite the bold price performance, in the last 15 days, the price dipped -30% from the upper boundary and formed support at $1.00.

The MACD shows a bearish cross due to the dip ONDO faced as it followed the decline of BTC, but the MACD is above the zero line, which means the price is still bullish. The RSI has turned around, as it took a U-turn, which is currently flashing at 51.03.

Therefore, if the ascend continues, the price could approach the upper boundary of the wedge and could aim towards $1.50 and $1.75; beyond this, the door could open for more growth. However, failing the $1.0 support could lead to the nearest support at $0.70.