Ondo (ONDO) Shows Signs of Possible Reversal – Is a Recovery Imminent?

Market Overview: The crypto market is experiencing pressure, with Ethereum (ETH) down nearly 8% in the last 30 days, impacting altcoins like Ondo (ONDO), which has seen a decline of over 26%.

Accumulation Phase: ONDO traded within a tight range for several months, indicating accumulation by smart money, but recently broke below key support, leading to a price drop to around $0.4760.

Manipulation Phase: The price drop below $0.7095 triggered stop losses and forced weak hands out, creating a manipulation zone where false breakdowns can occur before a true trend direction is established.

Future Outlook: ONDO needs to reclaim the $0.7095 level to signal a potential trend reversal, with key resistance levels at the 100-day MA near $0.7556 and a major breakout zone at $1.1050, which could lead to significant upside potential.