Lokesh Gupta
23-05-2024
#Ondo Finance forms a base above $0.87000, also aligning with the 76.80% Fibonacci level, while trading close to its all-time high.
After breaching out of a consolidation zone between the 61.80% and 78.60% Fibonacci levels, there is a potential signal for a new all-time high.
The $ONDO token price is steadily approaching its all-time high, with strong bullish candles forming on the daily chart.
For the past month, ONDO has been trading within a horizontal channel zone.
On March 31st, $ONDO attempted to breach its high on May 18th but failed to establish a new high, subsequently falling back towards the support zone.
According to Coin Gabbar analysis, if bulls break the all-time high, a rally could ensue, potentially propelling ONDO to $1.25 as per the 1.236% Fibonacci level in a short period.
Failure to surpass the all-time high could lead to the formation of a Double Top pattern for Ondo Finance, potentially triggering a decline towards $0.87000 and the 78.60% Fibonacci level
KEY LEVELS :
RESISTANCE LEVEL : $1.25000-$2.00000
SUPPORT LEVEL : $0.87000-$0.70000
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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