Ondo FinanceLong
fall led to the formation of a rising wedge
The ONDO price was mostly in the upward wedge and displayed a great uptrend. It got a major upward boost by mid-May 2024 from a symmetrical triangle pattern, hitting the $1.4841 mark.
However, sell-offs from the supply level washed away its gains. The fall led to the formation of a rising wedge, which was precisely a bearish pattern.
In the month of August, the price showed a bullish presence from lower support, as on Aug 5th, it showed a liquidity grab candle.
With the recently witnessed pullback formation, making ONDO approach the lost level of $0.875, and sustenance above ChoCh could ignite another rally.
Regarding ONDO price advancement, the resisting interruptions could be at $0.8752 and $1.0502, respectively. On the contrary, the loss of the support level of $0.6649 would lead to further descent.
However, sell-offs from the supply level washed away its gains. The fall led to the formation of a rising wedge, which was precisely a bearish pattern.
In the month of August, the price showed a bullish presence from lower support, as on Aug 5th, it showed a liquidity grab candle.
With the recently witnessed pullback formation, making ONDO approach the lost level of $0.875, and sustenance above ChoCh could ignite another rally.
Regarding ONDO price advancement, the resisting interruptions could be at $0.8752 and $1.0502, respectively. On the contrary, the loss of the support level of $0.6649 would lead to further descent.
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