- ONDO forms a bullish double-bottom pattern on the chart.
- A daily close above $1.2 is the key resistance level to watch.
- Utility tokens are surging, and ONDO could follow suit.
ONDO is showing a classic double-bottom chart pattern, often seen as a strong bullish signal in technical analysis. This formation occurs when a token hits a similar low twice, with a moderate high in between, signaling potential trend reversal. Currently, ONDO is hovering near the neckline resistance of $1.2. If the price closes above this level on the daily chart, it could trigger a powerful upward move.
Traders are closely watching this key resistance. If broken, the technical target suggests a potential 40% to 50% rally, taking ONDO toward the $1.7–$1.8 range. The double-bottom pattern often marks the end of a downtrend and the beginning of a bullish phase, especially when paired with strong trading volume and market sentiment.
Utility Tokens Lead, ONDO May Be Next
Utility tokens across the crypto market are experiencing renewed momentum. As capital flows back into these assets, ONDO could benefit from the broader trend. Projects with clear use cases and strong fundamentals are gaining traction, and ONDO fits that profile.
With bullish sentiment building and technical indicators aligning, the market setup favors buyers. Momentum indicators such as RSI and MACD on higher timeframes are beginning to lean bullish, reinforcing the case for a possible breakout.
$1.2 Is the Key Level to Watch
The $1.2 resistance acts as the neckline of the double-bottom structure. A decisive daily close above this level would validate the breakout, potentially opening the doors for a sharp rally. Traders and investors should keep a close eye on volume spikes, as they often confirm the strength of such moves.
While the crypto market remains volatile, patterns like this help traders anticipate price direction. If ONDO can flip $1.2 into support, it could join the list of utility tokens currently making strong gains.
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