Direction
Long
Published
October 11, 2024
Status
Token
ONDO
Trigger
Support/Resistance
Type
Updated
About + Tokenomics
CoinMarketCap Rank | 68 |
Market Cap | 950M |
Volume 24h | 59; |
Total Supply | 10B |
Circulating Supply | 1.4B |
Chain | Ethereum |
Chart Analysis
ONDO did not reach our profit target after the breakout of its long-term downtrend. Nevertheless, the chart still looks bullish—and even more than before.
- ONDO has entered an uptrend early September making lower highs
- The latest top was a higher high.
Therefore, I still expect ONDO to make a bigger move soon. The profit targets of 30% and 57% are still valid in this case.
Technical Indicators
- MACD: Bearish 🔴
- RSI: Neutral 🟢
- VMA: Downtrend 🔴
- Triple EMA: Price trades below all EMAs 🔴
- ADX: 17, indicating no trend 🔴
Chart
Trade Setup
- Entry: Break above the resistance at 0.7 and confirmation.
- Target 1: Around 0.90 (~30% potential)
- Target 2: Around $1.10 (~57%)
- Stop Loss: Slightly below the 0.62 level.
Since the technical indicators do not support a trade entry at the moment make sure to check them before entering. You probably want at least the VMA and ADX to support the trade.