Date: Thu, June 12, 2025 | 05:10 AM GMT
The cryptocurrency market is showing signs of a pullback following yesterday’s rally triggered by the U.S. CPI data release. Bitcoin (BTC) dropped from its 24-hour high of $110,384 to around $107,725 at the time of writing, applying downward pressure on major altcoins — including Ondo (ONDO).
ONDO is currently down by over 4%, and a closer look at the chart reveals a potentially bearish setup signaling a short-term correction could be underway.
Source: Coinmarketcap
Bearish Cypher in Play
ONDO’s 4-hour chart shows a Bearish Cypher harmonic pattern — a setup that often forecasts a short-term reversal. The D-point of this pattern was completed near the $0.92 level, right at the 0.786 Fibonacci retracement of the X to C leg — an area known as the Potential Reversal Zone (PRZ).
Ondo (ONDO) 4H Chart/Coinsprobe (Source: Tradingview)
Since reaching that level, ONDO has dropped below the first key support — the 0.382 Fibonacci level at $0.8592 — confirming that selling pressure is active.
What’s Next for ONDO?
With the $0.8592 level already broken, attention now turns to the 0.618 Fibonacci retracement level at $0.8207, which could act as the next key support zone.
If ONDO manages to hold above this level, it may begin to stabilize and potentially rebound toward the $0.90 area, where previous minor resistance lies. This would mark a healthy continuation pattern following the harmonic pullback.
Final Words
ONDO’s recent pullback aligns with the Bearish Cypher pattern, and the break below the 0.382 level suggests the correction is still in motion. All eyes are now on the $0.82 region — a crucial support area that could decide whether ONDO rebounds or dips further.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
