The cryptocurrency market has experienced volatility recently due to escalating geopolitical tensions between Israel and Iran. Ethereum (ETH) has dropped by over 8% in the past month, now hovering around $2,550. This downturn has impacted other altcoins, including Ondo (ONDO), a prominent Real World Assets (RWA) token, which has fallen 5% in the past week. However, a closer look at the daily chart suggests a potential buying opportunity.
A bullish fractal pattern, almost identical to a previous breakout, may indicate that this dip is a chance to accumulate ONDO. The daily chart showcases a powerful pattern, similar to a breakout witnessed in late 2024. This pattern, marked by descending resistance lines and confluence of moving averages (20, 100, and 200 SMA), reveals an accumulation zone similar to the one seen before.
Fast forward to today: ONDO is mirroring this setup, creating a similar dynamic. If the fractal repeats as it did in November 2024, ONDO could surge by another 261% from its current price, reaching levels close to $2.70.
To further understand the outlook of ONDO’s potential surge, analysts suggest that if ONDO can maintain above a range of $0.73-$0.80 and break past the 20 and 100-day SMAs, it could trigger an aggressive move upwards. Crossing the 200 SMA at $0.88 would validate this bullish trend.
With a successful breakout beyond the current downtrend line, we can expect to see a surge towards the $1.20-$1.40 range in the short-to-mid term, with the full $1.94 fractal target within sight if momentum continues.
**Disclaimer:** This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions in cryptocurrencies.