$ONDO Spotting an ONDO Bearish Flag
A bearish flag pattern for Ondo (ONDO) is a technical continuation signal indicating that a recent sharp downtrend is likely to resume after a brief pause.
This pattern forms after a steep price decline (the flagpole), followed by a weak, upward-sloping consolidation channel. A key characteristic is declining volume during this consolidation, showing a lack of strong buying interest.
The bearish signal is confirmed when ONDO's price breaks down below the flag's lower support trendline. This breakdown on increasing volume projects a further decline, typically equal to the initial flagpole's height.
Ultimately, this pattern warns that selling pressure is dominant and the consolidation is merely a pause before the downtrend continues.$PIPPIN $POWER
