ONDO Is Setting a Classic Wyckoff Trap?

Yello Paradisers, What if the recent breakout above ONDO's descending resistance is the first sign that smart money has finished accumulating while most traders are still expecting lower prices?

💎#ONDOUSDT is showing a strong Wyckoff re-accumulation structure. After the Selling Climax around $0.35 and the Automatic Rally toward $0.395, the price spent several days building a base while repeatedly testing demand. The spring below $0.321 successfully shook out weak hands before buyers quickly reclaimed the range, a classic Wyckoff sign that supply is being absorbed.

💎More importantly, #ONDO has now broken above the descending resistance that has capped the price since the recent highs. This breakout, combined with multiple Last Points of Support, suggests buyers are gradually taking control of the market structure.

💎As long as the demand zone between $0.331 and $0.351 holds, the bullish scenario remains valid. The next key obstacle sits at $0.375. A successful breakout above this resistance could open the door for a move toward $0.395, while a stronger expansion could eventually target the major supply zone around $0.458.

💎However, traders should remain patient. A rejection from resistance could still trigger another retest of the current support zone before the next leg higher develops. Until the $0.331 support is lost, the overall structure continues to favor accumulation rather than distribution.

🎖Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.

MyCryptoParadise
iFeel the success🌴