ONDO is currently trending, with a price increase of 8% over the last 24 hours. It is currently priced at around $1.39. People are wondering if the ONDO price could reach $5 by 2025. A crypto analyst on the Solberg Invest page on X believes this might happen.
The chart from Solberg Invest post noted the potential symmetrical triangle pattern, characterized by converging trendlines. This pattern is indicative of a period of indecision in the market, where buying and selling pressures are nearly equal.
However, once a breakout occurs, the symmetrical triangle often leads to a continuation of the previous trend. Given the preceding uptrend, a bullish breakout above the upper trendline could be anticipated, pointing towards further price increases.
ONDO Price Target
Based on the chart is an “ONDO Mid-term target” set ambitiously at $5. This target, marked by an upward arrow, suggests that there is significant growth potential for ONDO price from its current price. If the symmetrical triangle breaks out to the upside, this mid-term target could become a realistic goal for investors looking at a 2025 horizon.
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Interpretation of Support and Resistance
- Support: The lower trendline of the symmetrical triangle provides a level of support. Should ONDO price action fall below this line, it could signal a potential bearish reversal, indicating that the anticipated bullish trend might not materialize as expected.
- Resistance: Conversely, the upper trendline acts as resistance. A decisive move above this line would validate the bullish scenario, paving the way for ONDO price to aim for the $5 target.
The analysis is conducted on a daily timeframe, offering a mid-term perspective. Given this frame, the progression towards the $5 mark by 2025 seems feasible, especially if there’s sustained interest and positive market sentiment surrounding the ONDO price.
