#ONDOUSDT — Descending Wedge & High R/R Zone

#ONDO

The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is trending towards a bounce. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

A key support zone (in green) was found at 0.2450, and the price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports a potential upward move.

Entry Price: 0.2538
First Target: 0.2570
Second Target: 0.2614
Third Target: 0.2662

Stop Loss: At the resistance zone (in green)

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.