$ONDO $ONDO 12h Market Read
- Given the confluence of supports right under the current price and the cluster of bullish signals from some indicators, I am watching for a possible short-term reversal or at least a bounce from this zone.
- Most likely scenario: If price sweeps below 0.2937 and quickly reverses, I expect a move first toward 0.3121, then possibly 0.3207 and 0.3439 if bulls take over.
- Confirmation to enter: Look for a strong bullish engulfing or pin bar after a sweep below 0.2937, or on lower timeframes, a clear shift in structure with higher highs and lows. Enter after price closes back above 0.3032 with momentum.
- If the price fails to reclaim 0.3032 after a sweep, or loses 0.2937 with strong bearish continuation, the bearish trend could accelerate toward 0.2787 and lower.
- My bias will turn fully bearish if price closes below 0.2937 and fails to immediately reclaim it, then I would expect continuation toward 0.2787 and 0.2541.
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