As Ethereum surpasses $4,300, the cryptocurrency market is on the rise. Altcoin ONDO shows significant growth, backed by a strong bullish technical signal. Investors are closely monitoring its next key move.
ONDO shows a 13% growth this week, driven by a promising Cup and Handle technical pattern. This chart formation, which began in late April with a low of $0.64, marks a controlled consolidation phase, setting the stage for a potential upward breakout. Breaking through the symbolic $1 threshold has eliminated weak positions before buyers regained control.
The token is now approaching the neckline at $1.06, supported by the 200-day moving average, a key support level. A close above this level could trigger a rise to $1.48, representing a potential 43% gain. Trading volume will be crucial : Strong buyer support would accelerate the upward movement, while rejection could push ONDO to retest support levels around $0.95 – $0.97 before making another attempt.
Try your luck to generate significant returns on ONDO in case of a bullish rebound in the coming days with Bitget :
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