ONDO/USDT Falling Wedge in Play Is it Set to Soar?

Pattern
The chart is forming a Falling Wedge pattern, which is typically a bullish reversal structure.

Key Levels to Watch

Support Zone
Lower trendline support around $1.05.
Strong horizontal support near $1.00, making this a potential entry point for long positions.

Resistance and Target
If a breakout occurs, the expected upside target is $1.60+, with further momentum possibly driving the price even higher.

Insights
The falling wedge narrows as price action consolidates, indicating reduced bearish strength.
A breakout above the upper trendline would confirm a bullish move.

Trading Strategy
Look for confirmation of breakout or bounce from $1.05 or $1.00 before entering.
Set stops below $1.00 to manage risk.
Potential profit taking levels could be around $1.60 or higher depending on market momentum.


This chart signals a promising bullish setup. Monitor closely for breakout confirmation to capitalize on the potential upward move.