Crypto Quill

The DeFi market is heating up again as the broader crypto sector shows signs of recovery. Ondo Finance, a key player in real-world asset tokenization, is making waves with its price action. Holding firm above $1, the token is flashing bullish signals, with traders eyeing a possible breakout. Could this push Ondo past the elusive $2 mark?

Ondo’s Price Action Hints at a Double-Bottom Reversal

Ondo Finance has been holding its ground above $1, a level that has become a key psychological support. This stability is fueling speculation about a potential double-bottom reversal, a bullish chart pattern that often precedes a significant price rally.

The recent recovery aligns with the broader market trend, as Bitcoin and Ethereum regain lost ground. With increased confidence in DeFi projects, Ondo’s price action is drawing attention. If the reversal pattern plays out, the next major hurdle could be a descending triangle breakout, possibly setting the stage for a surge toward $2.

Traders and analysts are watching closely. A confirmed breakout above the resistance trendline would signal further upside momentum, while failure to sustain support could invite renewed selling pressure.

Descending Triangle Pattern Signals a Make-or-Break Moment

On the daily chart, Ondo Finance’s price movement is forming a descending triangle. This technical setup typically indicates consolidation before a decisive move—either a breakout or breakdown.

The key elements shaping this pattern include:

• Local support at $1.19, a level that aligns with strong buying interest.
• The descending resistance trendline, which began after the token was rejected at $2.00.
• The 200-day EMA, acting as a crucial dynamic support zone.

As the price nears the triangle’s apex, a breakout could trigger a fresh rally, potentially targeting $2. However, failure to breach resistance might result in a retest of lower levels.

Can Ondo Finance Extend Its Rally Beyond $1.50?

If Ondo manages to break above its descending triangle, the next checkpoint will likely be the $1.50 resistance. This level has historically acted as a major barrier, making it a critical point for price validation.

A successful move past $1.50 would:

• Increase market confidence and attract fresh buying interest.
• Confirm bullish sentiment and open doors for a potential run toward $2.
• Align with broader market momentum as DeFi regains traction.

However, rejection at this level could push Ondo back into consolidation, delaying any major bullish move.

What’s Next for Ondo? Key Levels to Watch

To get a clearer picture of Ondo’s next move, let’s break down the important price levels:

Price Level	Importance
$1.19	Key support level, coinciding with the 200-day EMA. A breakdown here could lead to further downside.
$1.50	Crucial resistance. A breakout above this could signal a strong bullish trend.
$2.00	Psychological resistance. Breaking this would confirm a strong uptrend.

With the market recovering, Ondo’s potential for a bullish breakout remains high. A sustained move above $1.50 would set the stage for a retest of $2, marking a significant recovery for the token. However, failure to break resistance could keep the token stuck in its current range.