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ONDO defends key support—THESE are the levels to watch now
Ondo Finance [ONDO] has managed to defend its crucial 61.8% retracement level at $1.8 over the past six weeks, a strong signal that bulls have successfully held their ground against bears. As the market-wide sentiment stabilizes, if demand for Ondo remains steady, this consolidation phase could quickly transform into an uptrend.
The price action of ONDO has been relatively robust compared to other mid-to-large cap altcoins over the past month. This relative strength could play a crucial role in supporting bulls in the coming weeks.
In terms of technical analysis, it is imperative to monitor the levels that have been established over the recent period. A range formation has developed between $1.18 and $1.6, which will serve as key resistance and support levels moving forward.
If ONDO can continue to hold its 61.8% retracement level at $1.8, there is a possibility of an uptrend emerging once market-wide sentiment stabilizes and demand for Ondo remains steady.
Source: ambcrypto.com
