ONDO/USDT: Consolidating at MA60 pivot, awaiting direction 🔄
ONDO is trading at $0.3457, up +0.70% today, indicating modest bullish momentum near a key technical level. The price is testing the 60-period moving average ($0.3440), which acts as immediate support. The daily range is tight, with resistance at $0.3464 and support at $0.3344, suggesting consolidation before a potential breakout.
Trading Idea (trading around the pivot and breakout):
Scenario 1 (Buy on MA60 support hold):
Entry Zone: $0.3440 – $0.3455 (near MA60 support bounce)
Stop Loss (SL): Below $0.3420 (loss of MA60 structure)
Take Profit Targets (TP):
TP1: $0.3480 (initial resistance)
TP2: $0.3500 (next psychological level)
Scenario 2 (Sell on MA60 support break):
Entry Condition: Loss of MA60 and drop below $0.3435
Stop Loss (SL): Above $0.3465
Take Profit (TP): $0.3400 → $0.3370
Trading volume is moderate at $3.53 million. The weekly trend remains negative (-8.40% over 7 days), but holding above MA60 may indicate short-term stability or a rebound.