ONDO BREAKOUT

Since the beginning of June ONDO has been in a downtrend that saw a -66% move to the downside. Now 111 days later price has broken out of the trend channel, showing a +15% move from the breakout.

The daily candle is currently trying to close above the 1D 200EMA, a convincing close above the MA would be extremely bullish having now cleared the major resistances and the trend is flipping bullish.

Bullish targets would be:

- Local high (LTF) $0.808
- Daily resistance (1D) $0.901
- Key S/R level (1D) $1.048
- ATH $1.50

Stop Loss:

- Local low (downtrend continuation) $0.58

ONDO being one of the standout RWA projects has a great R:R here for the next 6-12 months. Definitely a coin worth keeping an eye on.

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Local high (complete)

next target: Daily resistance

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DAILY RESISTANCE HIT!!

Rejected off this level looking to find support on the 1D 200EMA.