ONDOUSDT Price Action Moves Off the $0.7000 Support Level

Price activity in the ONDOUSDT market has tested breaking the $0.9000 resistance level. However, that seems like a tough one to pull off as the market retreated to lower levels. The market has, as of the time of writing, seen a price increase of 5.12%. What are the chances that the market will be able to maintain an upside course from here onwards? Let’s try to find out.

ONDO Statistics:
Current Ondo Value: $0.7443
Ondo Market Cap: $1,038,839,280
ONDO Circulating Supply: 1,389,759,838
Ondo Total Supply: 10,000,000,000
ONDO CoinMarketCap Rank: 88

Key Price Levels:
Resistance: $0.7500, $0.7650, and $0.7750
Support: $0.7400, $0.7200, and $0.7000

ONDOUSDT Bounced Off the Psychological Support at $0.7000 Mark

Trading activities had regressed and touched on two important landmarks on the ONDOUSDT daily chart. The last price candle could be seen testing the Fibonacci Retracement Level of 38.20 with its lower shadow. Likewise, the current session had opened just at the psychological support $0.7000 mark. Consequently, this has kept the market just above the red set of the Guppy Multiple Moving Average lines (GMMA).

Meanwhile, it appears that prices have further regressed in the ongoing session, with the upper shadow of the ongoing session piercing through the green GMMA lines. Furthermore, the terminal end of the Stochastic Relative Strength Index (SRSI) indicator lines can be seen separating after dragging in the oversold region. This hints that the upside momentum may keep building up.

ONDOUSDT Continues Presenting Moderate Profits

Studying the ONDOUSDT market on the 4-hour market reveals that price action has managed to maintain an upside trajectory over the past 12 hours. The current session has pushed the market further through more of the GMMA indicator lines. Likewise, the SRSI indicator lines can now rise more clearly out of the oversold region.

All these hints suggest that price action may be propelled further upward since it appears that bullish momentum is still dominant. Yet, one thing seems to raise some suspicion, though. The body of the last price candle can be seen appearing much closer to the lower shadow. This suggests that headwinds may be regrouping somewhere ahead. This suggests that the use of bullish crypto signals in anticipation of hitting the $0.8000 mark in this market should be done with caution.

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