Short Liquidation Alert: $ONDO
A $52.2K short position on #ONDO was liquidated at $1.794, signaling a potential bullish breakout.
This move shows strong buying pressure, forcing bears to cover their positions.
Market Insight:
Liquidations of shorts often trigger upward momentum, as bulls capitalize on the squeeze.
ONDO is showing resilience around the $1.79 level, which may now act as a support.
Next Move for Traders:
• Upside Targets: If the bullish momentum continues, $1.82-$1.85 could be the next resistance zones.
• Key Support: Watch for $1.78 to hold. A break below this might weaken the rally.
Pro Tip:
Momentum traders can ride the wave upward, but keep stops tight to manage risk.
For safer entries, wait for a retest of the breakout level.
ONDO could be setting up for more action—keep it on your radar!