ONDO price has taken quite a tumble from its recent highs, but don’t count it out just yet. A closer look at the charts suggests this dip might actually be setting the stage for something much bigger.

An analysis from Kyren, wit more than 37,000 followers on X, shows that right now, ONDO sits at a crucial support level that lines up perfectly with previous breakout points. The following paragraphs will address the analysis

If you take a look at the chart, you’ll notice ONDO price has pulled back to an area that’s served as a springboard in the past. What makes this spot particularly interesting are the blue-shaded zones representing Fair Value Gaps, or FVGs. These are areas where price moved so quickly that very little actual trading happened there. Traders often watch these gaps closely because they tend to act as magnetic support or resistance zones when price revisits them.

ONDO is currently showing one of its most oversold readings ever. The last time the RSI dropped this low, ONDO didn’t stay down for long before launching into a strong rally. When RSI gets this oversold, it typically means sellers have run out of steam, creating perfect conditions for a potential bounce.

Kyren points out something particularly interesting about ONDO current position – it’s sandwiched between two significant FVGs. This exact scenario has led to powerful bullish reversals in previous trading cycles. The lower FVG (which Kyren highlights with arrows in the chart) has consistently provided support, suggesting smart money might be quietly accumulating at these levels.

Looking at ONDO’s past behavior, Kyren notes that similar technical patterns have preceded moves to new all-time highs. If this historical pattern holds true again, we could be witnessing the early stages of another major bullish phase. The key confirmation signal to watch for would be a decisive break above the current resistance level (marked by the red line on the chart).

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With ONDO sitting at strong technical support while showing extreme oversold readings, the conditions appear ripe for a potential reversal. Based on how similar setups have played out in the past, this could be the launching pad for a move toward new record highs. That said, trading always comes with risks – if ONDO fails to hold this support, we might see more downside before any meaningful recovery begins.

The current technical setup certainly deserves attention, especially from anyone who’s been watching ONDO’s price action.

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The post Key Indicator Reveals ONDO Price Is Primed for New All-Time High: Watch These Metrics appeared first on CaptainAltcoin.

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