$ONDO: Trendline Breakout Could Trigger a +20% Swing Long
Looking at the 2H chart, 
ONDO is positioning itself for a potentially explosive move after a clean defense of its macro support floor.
The Setup & Trigger
Price recently printed a solid bottom inside the $0.34 demand block, catching an accurate cluster of green buy signals from the indicator suite. Since then, it has recovered well and is now compressing tightly right under a clear descending trendline.
This trendline is the ultimate line in the sand for the bears. We are keeping a close eye on this structure for a potential swing long execution.
- The Trigger: A clean candle close above the descending trendline to confirm the local market structure shift.
- The Target: Once the breakout is secured, there is a clear liquidity run up to the next logical horizontal resistance zone at $0.46, offering a sweet ~20% upside move.
- Risk Management: Invalidated if the breakout fails and price prints a clean close back below the local consolidation base / trigger level.
Keeping this one on strict radar. Let the breakout confirm before jumping in.
Disclaimer: Personal trading view based on chart structure. Not financial advice.
ONDO is positioning itself for a potentially explosive move after a clean defense of its macro support floor.The Setup & Trigger
Price recently printed a solid bottom inside the $0.34 demand block, catching an accurate cluster of green buy signals from the indicator suite. Since then, it has recovered well and is now compressing tightly right under a clear descending trendline.
This trendline is the ultimate line in the sand for the bears. We are keeping a close eye on this structure for a potential swing long execution.
- The Trigger: A clean candle close above the descending trendline to confirm the local market structure shift.
- The Target: Once the breakout is secured, there is a clear liquidity run up to the next logical horizontal resistance zone at $0.46, offering a sweet ~20% upside move.
- Risk Management: Invalidated if the breakout fails and price prints a clean close back below the local consolidation base / trigger level.
Keeping this one on strict radar. Let the breakout confirm before jumping in.
Disclaimer: Personal trading view based on chart structure. Not financial advice.
Trade active
ONDO broke the trendline, a bit later than I expected.Retested and grabbed liquidity at the 0.34 major support. Already pumped 20% since the trendline break and retest, clean setup.
Next logical target now is 0.46.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.