5 hours ago
As several altcoins recovered nicely from Tuesday’s crash, Ondo posted a major gain as it formed a bullish pattern on the daily chart. Other real-world asset tokens like Link, Algo and OM are also in the spotlight. Ondo has provided a huge discount over the past few weeks following a broader correction to a three-month low of $0.9. A bounce occurred, and the price climbed back with a strong close above $1.2 last weekend. It faced rejection, and the price dropped. The rejection led to Monday’s dump that caused serious panic among investors, signaling a potential bearish continuation. It later found support after testing a new monthly of $0.86 the following day. Ondo recovered and closed with a pin bar. That indicated a potential buy, and the price increased significantly with an engulfing candle close yesterday. Reiterating actions today, the price is now on the verge of breaking up. A strong close above last week’s high should set a new tone in the market as the trend slowly reverses. Having said that, it is important to note that Ondo’s bearish trajectory remains intact on the daily chart. A crack below this week’s low should put the asset in a more bearish state. For now, it appeared set for a shift. ONDO’s Key Level To Watch Source: Tradingview Now that the price is on the verge of reclaiming last week’s $1.23 high, a break above it should send the price to $1.44 and probably $1.64. There are currently no signs of drops. If the market pulls back, the closest level to consider is $0.99. A pull below this level could bring us back to the $0.867 low – which now holds as support. Breaking it could dip the price to $0.73 in the future. Key Resistance Levels: $1.23, $1.44, $1.64 Key Support Levels: $0.99, $0.867, $0.73 Spot Price: $1.27 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Image Source: miss_j/ 123RF // Image Effects by Colorcinch
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Venture Capital Thrives in Blockchain and Crypto Investments
Venture capital investments in crypto and blockchain reached $1.11 billion in February. Strong investor interest signifies the sector`s appeal despite uncertainties. Continue Reading: Venture Capital Thrives in Blockchain and Crypto Investments The post Venture Capital Thrives in Blockchain and Crypto Investments appeared first on COINTURK NEWS . NullTx
Urgent Call: Become an AI Speaker at Bitcoin World Sessions – Apply Today!
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