ONDO đPotential Mid-Term Bullish Trendđ€
I am looking to take a long position on ONDO with a stop-loss at $0.65, but I'm willing to take some risks, expecting a bullish mid-term price action.
Over the past 30 days, ONDO has shown signs of recovery, which is indeed promising. This upward trend suggests there might be renewed interest or positive developments within the project.
âThe significant drop in trading volume is concerning. Lower volumes often indicate less interest or liquidity, which can make price movements more volatile and less predictable.
âDespite the recovery, the 90-day losses remind us of the inherent risks involved.
Support at $0.65:This level is critical. If ONDO manages to hold above this, it could bolster investor confidence. My stop-loss is set here, acknowledging the risk of a dip below this could trigger further declines.
Resistance at $0.72:Breaking above this could be a strong signal of a recovery gaining momentum, potentially leading to a more robust bullish trend.
I'm considering entering the market slightly above $0.65 ,around these levels to give some breathing room against immediate support.
Given the volatility, keeping the position size manageable and setting a stop-loss at $0.65 seems prudent.
Positive news could act as a catalyst for the break above $0.72.
While the short-term recovery is encouraging, the overall market conditions for ONDO require cautious optimismm . I'm betting on a mid-term bullish trend, but the stakes are high, and monitoring the situation closely.#OndoUsdt #Ondo
