ONDO has entered a bearish phase (4H)

Aug 7

The upward phase of ONDO formed a triangle pattern, which now appears to be complete.

At the moment, the price seems to be in Wave A of this bearish phase. We expect Wave A to complete within the highlighted green zone. The projected paths for Waves B and C are shown on the chart.

Plan your setup accordingly and manage your risk properly.

For now, we do not expect ONDO to make new higher highs. Based on the current wave structure, it appears that ONDO has entered a bearish phase.

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Do you also think ONDO is bullish?

Aug 12

Trade active

Price dropped more than 8% and reached the green zone. If you want to enter a buy position, given the corrective nature of the market, wait for confirmation and a trigger before entering the position.

Aug 22

Trade closed: target reached

The price made a back-and-forth move 20% to the upside and 20% to the downside. We’re done with ONDO now.