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A 47% Hike for ONDO’s Price? Here Are All the Signs That Say So!
As the cryptocurrency market continues to exhibit unpredictable price movements, a fascinating development has unfolded in the ONDO ecosystem. Our analysis suggests that the asset is on the cusp of a significant upswing, with all indicators pointing towards a potential 47% hike.
Our research highlights a clear descending triangle pattern on ONDO’s price charts, indicating a consolidation phase marked by lower highs and a flat support level near $1.0837. The observed trend could be interpreted as an imminent breakout.
Further analysis revealed that liquidations were clustered around $1.10 to $1.20 over the last 24 hours. This unusual phenomenon points towards the removal of most leveraged long positions, resulting in reduced risk and a more stable price environment. As a result, this pattern strengthens our hypothesis of a potential upward movement.
The absence of dense liquidity pockets also corroborates our findings, as it indicates that the market lacks selling pressure from unrealized losses. Furthermore, only 9.21% of trader positions were exposed to risk, underscoring the possibility of an upward breakout over a collapse.
Pantera Capital’s investment in ONDO Finance is another crucial factor bolstering confidence in the asset’s long-term trajectory. As one of the leading crypto investment firms with a $4 billion portfolio, Pantera’s backing has added legitimacy and institutional support to ONDO’s real-world asset tokenization model.
Our findings also align with strong net flow activity, mirroring past accumulation phases where large inflows have preceded price recoveries. The correlation between these trends is particularly noteworthy, as it underscores the likelihood of a 47% price hike in the near term.
Conclusively, our analysis indicates that ONDO’s market structure favors an upward breakout over a collapse, further solidifying the case for a potential 47% surge in its value.
Source: https://ambcrypto.com/a-47-hike-for-ondos-price-here-are-all-the-signs-that-say-so/
