ONDO's explosive 100% rally tests critical resistance after February lows
ONDO has surged over 100% from its February lows, recovering sharply after hitting a bottom near $0.19. The token’s recent climb has now pushed it into a key resistance zone between $0.486 and $0.598. Analysts are watching this level closely as it tests major Fibonacci resistance and determines the next market move. The rally began after ONDO bounced from its February capitulation point near $0.19. Since then, the price has more than doubled, drawing attention to its technical structure. Holding support between $0.35 and $0.40 remains crucial for maintaining the medium-term bullish outlook.
A confirmed breakout above $0.598 would signal further upside potential, possibly driving the price toward $0.70. If momentum continues, the next target could extend as high as $0.85. However, a drop below $0.35 might indicate the rally has peaked, risking a pullback to the $0.24 support area. Market confidence in ONDO has grown due to its ties with major financial players. Collaborations with JPMorgan Chase, Mastercard, Ripple, and Ondo Finance have reinforced its real-world asset (RWA) narrative. Despite this optimism, some analysts warn that the Elliott Wave structure suggests the current move may still be part of a broader corrective rally within a bearish trend.
ONDO’s price action now hinges on whether it can break above $0.598 or falls below $0.35. A successful breakout would invalidate bearish expectations and support further gains. Conversely, losing key support levels could trigger a reversal toward lower price zones.
