Date: Fri, June 20, 2025 | 06:25 PM GMT
The cryptocurrency market today is witnessing a sharp pullback amid mounting geopolitical tensions between Israel and Iran. Ethereum (ETH), one of the leading assets, has dropped over 3%, falling from 24H high of $2,567 to around $2,425. Unsurprisingly, altcoins have followed suit, and Ondo (ONDO) is among the assets hit by the downturn.
ONDO has declined 3% today, bringing its monthly losses to over 22%. But while the price action may seem bearish on the surface, a closer look at the daily chart suggests a potentially explosive setup is unfolding — one that mirrors a previously successful fractal pattern.
Source: Coinmarketcap Breakout Fractal Setup Hints at a Bullish Reversal
The daily chart of ONDO shows a familiar pattern developing. In late 2024, ONDO consolidated within a descending wedge, repeatedly testing a key demand zone around $0.40–$0.45. After compression below key moving averages (20, 100, and 200 SMA), the token broke out, rallying 261% to peak at around $1.55.
Now in June 2025, ONDO is exhibiting strikingly similar behavior:
- Same descending trendline
- Same compression under 20/100/200 SMAs
- Same horizontal support zone
- Same red circle retest near demand zone
The current setup appears almost identical to the November 2024 breakout — including a candle formation signaling demand absorption at the 200 SMA. If history repeats, ONDO could be gearing up for a massive rally toward $2.70, a potential 261% gain from current levels.
What’s Next for ONDO?
ONDO’s key phycological support lies in the $0.68–$0.76 range. Holding this zone is critical for maintaining the bullish structure. A move above the 20 and 100-day SMAs would be the first confirmation of strength. The next level to watch is the 200 SMA near $1.12— flipping that into support could ignite a breakout above the descending resistance.
A successful breakout could propel ONDO to the $1.20–$1.40 zone in the coming weeks, with a longer-term target of $2.50–$2.70 if momentum mirrors the previous fractal.
Final Words
While ONDO’s recent price drop may appear discouraging, the broader technical picture tells a different story. A nearly perfect fractal pattern — including confluence with moving averages, historical support, and compression — suggests that this could be a prime accumulation phase.
If the fractal continues to play out, ONDO could be setting the stage for another powerful rally. But with macro uncertainty high, especially amid ongoing geopolitical tensions, traders should remain patient and await clear confirmation before diving in.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in cryptocurrencies.
