In this new crypto trend, we will focus on an asset, selected by you on our networks following a survey, in order to determine the technical thresholds to monitor and bias to have for the next few weeks. The altcoin on which today’s analysis will focus is ONDOthe protocol token Ondo Financeaiming to build, according to them, the next generation of financial infrastructure in order to improve both the efficiency, transparency and accessibility of financial markets.
A particularly powerful upward trend
Although we are not on a weekly scale, but on 3D time unitthat is to say a candle corresponding to three days of fluctuations, we can still see the strength of this upward trend, driven by the breakout of $0.31 in order to effect a resolution of the 3D range. Such price action, crossed with exposure to the narrative of Real-World Assets (RWA), had a good chance of leading to a upward trend.
Now, what should we expect on this time scale? The asset having marked a break time after the formation of a new peak at $0.65 then starting again a few days later on the rise with a break of this same peak, we can expect a similar setup until proven otherwise for the next few weeks.
Ideally, for the strength of momentum to be preserved, ONDO should stay above the previous peak at $0.65. If he succeeds, he will have every chance of crossing the $0.995 in order to evolve into price discovery. In this context, by venturing into unknown territory, all scenarios are possibleespecially since with exposure to the RWA narrative, the market can behave in a manner unreasonable by bringing substantial liquidity.
A better understanding of the course on a daily scale
When we find ourselves on the daily scale, we understand the dynamic what the price has experienced in recent weeks, the way in which it has evolved between the different thresholds. When ONDO moves within a range, it generally tends to hold steady above a pivot before taking off upwards (the blue or black lines shown in dotted lines are the famous pivots concerned).
During the previous lateralization, ONDO had managed, after a peak at $0.65, to remain above the threshold located at $0.46. Are we going to have a identical price action with a rebound of ONDO on the new pivot at $0.82? If he succeeds, new heights will be imminent for the asset.
We are much higher than the $0.65 threshold, that’s for sure, but nonetheless, a rebound in this area would allow us to maintain a powerful momentum and low amplitude correctionswhat increase strongly the chances to attend over the next few days a new bullish candle.
An ideal correction threshold?
Briefly, we can focus on the H4 scale to confirm certain points mentioned previously. On the one hand, ONDO still remains on the pivot, it is however possible to witness a taking liquidity of stops accumulated under this pivot while having a rapid bullish reintegration. This would allow ONDO to leave healthily upwards on this time scale with a break, in the process, of 0.995 dollars.
However, we mentioned it on the analysis of the 3D time unit, a return to the threshold of 0.65 dollars will not would not call into question bullish momentum. By using the retracements of Fibonacci of the previous increase, we can see that the first retracement threshold is located at $0.69, which is in confluence with our previous parts of the analysis. In this context, in the event of a return of the price to this area, the chances of a strong bullish reaction with a rebound in the price are rather important.
Here we are at the conclusion of this analysis of the ONDO cryptocurrency. We can see this, whether on a weekly, daily or H4 scale, the bias is currently bullish. In this configuration, when the different time units are aligned in terms of price action, the probabilities of witnessing a continuity of the initial trend are high. Although this does not assure us certainty an increase for the coming weeks, if buyers manage to preserve current thresholds on ONDO, notably the 0.65/0.69 dollar zone, there is no no reason to witness a correction at high amplitude on the asset, unless bitcoin and ethereum decide to spoil the party by going downward.
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