news 
ONDO Crypto’s $2 Test – Traders, Watch Out for This Demand Zone!
The recent price action of ONDO (ONDO) has seen the cryptocurrency shed 5.44% over the past 24 hours and its daily trading volume fall by a whopping 32%. The lower timeframe price action highlights the $1.9 zone as a key support area.
As per the provided data, the momentum and market structure were found to be bullish, with higher lows and the Awesome Oscillator being well above zero. This supports the idea that the higher timeframe bias remains bearish. A local high at $2.146 was formed and over the past 48 hours, ONDO bulls have been pushed back.
The CMF (Commodity Channel Index) stood at +0.16, indicating strong capital inflow to the market. This supports the notion that the higher-timeframe bias is still bullish.
Looking ahead, it seems likely that the $1.72 area could be retested as a demand zone in the coming days. A set of Fibonacci levels was constructed based on the recovery from $1.3 and highlighted potential resistance levels at $2.14 and $2.34, with a longer-term target at $2.66.
Furthermore, it is crucial to pay attention to the 2-week lookback period which revealed three liquidity clusters of note nearby – at $1.67, $1.77, and $2.1. However, the $1.67 region has much more liquidation levels, making it a stronger magnetic zone that could attract ONDO sellers.
Therefore, in the coming days, there is a possibility that ONDO crypto might fall towards this demand zone at $1.7.
Source: ambcrypto.com
