ONDO Poised for a Potential Bounce After Breaking Out of Descending Channel

The ONDO price is showing strength after breaking out of a descending channel that lasted from January to late April 2025. This breakout and consolidation above the pattern indicate a shift in market structure, potentially marking a trend reversal. The upward momentum is further supported by the 9-day EMA crossing above the 21-day EMA on the chart, showing bullish momentum. Current price sits around $0.9163 with immediate resistance near $0.9497. A sustained move beyond this level could signal a short-term jump toward $1.00.