ONDO Channel Rejection Opens Door to Lower Lows
🔴 $ONDO - SHORT
Trade Plan: Current Price: ~0.3114
Entry Zone: 0.3175 - 0.3275
SL: 0.3345
TP1: 0.2970
TP2: 0.2770
TP3: 0.2540
Price rejected the upper boundary of the descending channel at 0.3275 where our Entry Zone 0.3175-0.3275 captures both channel resistance and the 0.5 Fib level. A bearish pinbar with expanding sell volume has formed, signaling distribution. Negative funding and weakening momentum support continuation lower. SL at 0.3345 sits above the channel high. Targets align with the lower channel boundary and liquidity voids at TP1 0.2970, TP2 0.2770, and major support at TP3 0.2540. Clean technical short with asymmetric downside.
Will ONDO bounce off the channel or accelerate lower? What’s your target? 👇
DYOR & manage risk!
$ONDO
🔴 $ONDO - SHORT
Trade Plan: Current Price: ~0.3114
Entry Zone: 0.3175 - 0.3275
SL: 0.3345
TP1: 0.2970
TP2: 0.2770
TP3: 0.2540
Price rejected the upper boundary of the descending channel at 0.3275 where our Entry Zone 0.3175-0.3275 captures both channel resistance and the 0.5 Fib level. A bearish pinbar with expanding sell volume has formed, signaling distribution. Negative funding and weakening momentum support continuation lower. SL at 0.3345 sits above the channel high. Targets align with the lower channel boundary and liquidity voids at TP1 0.2970, TP2 0.2770, and major support at TP3 0.2540. Clean technical short with asymmetric downside.
Will ONDO bounce off the channel or accelerate lower? What’s your target? 👇
DYOR & manage risk!
$ONDO