- •ONDO forms an inverse head and shoulders pattern near resistance, pointing to a potential bullish breakout.
- •$0.92 serves as ONDO’s immediate support, while $0.97 remains the key resistance zone to reclaim.
- •With $1.42B TVL, ONDO’s fundamentals strengthen the bullish reversal case backed by rising trading volume.
ONDO is exhibiting a technical structure that traders are watching closely, with an inverse head and shoulders pattern forming beneath a crucial resistance zone. The setup indicates a possible breakout if momentum aligns with strong volume support.
Technical Setup and Resistance Levels
Market analyst Alex Clay (@cryptclay) described ONDO as an “easy x2” due to the inverse head and shoulders (iH&S) formation. The pattern developed over several months, with a left shoulder in April, a deeper head in June, and a right shoulder through August and September. This symmetry has drawn attention as it presses against a horizontal neckline.
The neckline line which coincides with a major supply zone has served as a form of resistance since early 2023. Each approach toward this area has seen selling pressure dominate, making it the most decisive level for ONDO to surpass. Repeated tests of this zone, however, have gradually reduced selling strength, suggesting buyers are preparing for another breakout attempt.
If the neckline gives way with conviction, the iH&S projection signals a possible move toward $1.50–$1.80. From current levels near $0.9356, this would represent close to a 100% increase, validating Clay’s bullish stance if confirmed by volume.
Market Performance and Trading Dynamics
Within the last 24 hours, ONDO has traded between $0.9279 and $0.9785, closing near $0.9356, a 1.6% decline. The price action was a sudden intraday movement to a high of $0.978 then attack by the sellers forced it down to the $0.93 area. This is a tug-of-war over resistance.
The trading volume was high with the trade volume of 170 million during the period which indicates high market activity. Indicators such as these liquidity levels indicate that buyers and sellers are all around short-term resistance areas. The rejection above $0.97 showed profit-taking at higher levels, a common dynamic in accumulation-to-breakout scenarios.
For now, $0.92 acts as immediate support. If it holds, the structure remains intact, but a failure could send the token toward $0.88. Reclaiming and sustaining above $0.97 is essential for ONDO to mount a challenge at the $1.00 psychological mark.
Fundamentals and Broader Outlook
ONDO’s fundamentals continue to show resilience. The project maintains a market capitalization of $2.94 billion, with a circulating supply of 3.15 billion tokens. Its fully diluted valuation stands at $9.32 billion, reflecting locked supply that may create elasticity in current pricing.
The ecosystem’s Total Value Locked (TVL) surpasses $1.42 billion, a strong indicator of user engagement and capital deployment. This metric adds weight to the bullish technical pattern, suggesting ONDO is not only trading on speculation but also on growing utility.
Consolidation since June has produced higher lows, creating compression beneath resistance. This structural tightening often precedes strong directional moves, making the next breakout attempt especially critical. If volume supports the push, ONDO could confirm Clay’s bullish projection toward the $1.50–$1.80 zone.