ONDO Nears Breakout Point with Possible 47% Price Swing as Market Awaits Move 

• ONDO hovers at $1.12 with a descending triangle hinting at a sharp 47% price movement soon
• The chart shows buyers defending support as sellers push toward a possible breakout
• A move above $1.35 may lead to $1.80, while a drop below $1.12 could target the $0.70 range

ONDO is nearing a significant market shift, with a potential 47% price move, as highlighted by market analyst Ali (@ali_charts). Ali pointed out a descending triangle pattern on the ONDO four-hour chart in a TradingView post on February 23, 2025, at 21:29 UTC. This pattern, characterized by lower highs and horizontal support, often signals a breakout. ONDO currently trades at $1.1260, marking a 0.28% decline in the latest session as the token hovers near the triangle’s apex where volatility typically expands.

Descending Triangle Formation Signals Imminent Price Shift

Since late December 2024, ONDO’s price has consolidated within the descending triangle. The upper trendline consistently records lower highs, reflecting sellers’ control, while the horizontal support at $1.12 is a crucial defensive level. The chart shows multiple rebounds from this support, indicating buyer interest. However, as the apex nears, price compression intensifies, suggesting a breakout is imminent.

ONDO previously reached a high of nearly $2.40 before plunging by 47.36%, a drop that aligns with the expected breakout magnitude. Ali’s analysis projects a similar 47% price swing from the breakout point. ONDO could target the $1.80–$2.00 zone if the token breaks upward, aligning with prior resistance levels. Conversely, a downward move could push the price toward $0.60–$0.70, matching the descending triangle’s measured move target.

ONDO Faces Critical Support as Market Awaits Breakout Direction

The $1.12 support remains pivotal. Price action has repeatedly tested this level, underscoring market indecision. Sellers continue to press prices lower with declining highs, while buyers attempt to defend the support. A decisive break below $1.12 could trigger heightened selling pressure, potentially accelerating losses toward the $0.70 mark.

Alternatively, a breakout above the descending trendline, now around $1.35, could flip market sentiment. A sustained move past this resistance would open the path to reclaiming $1.80, possibly revisiting the $2.00 handle if bullish momentum strengthens.

Community Sentiment Divided Ahead of Breakout

Sentiment remains ambiguous as traders wait for the breakout direction. Ali sees major volatility in store, while traders remain split regarding an upside reversal or the continuation of the downtrend. The volume spike accompanying any breakout will form a vital confirmation of the move’s validity.

As ONDO interjects this watershed moment, market players remain vigilant for a momentous price event; the next few sessions will determine precisely how high or low the token will go depending on any interaction with this tightening range.