ONDO price has gained over 11% in the past day and is now breaking through key resistance for the first time in months. Trading volume has surged more than 50%, and ONDO is priced around $1.01 at writing. After months of downward pressure, this latest move raises the question: Is this a real breakout, or just another short-lived rally?

Let’s take a closer look at the charts to see if putting $1,000 into ONDO makes sense right now.

ONDO has been held down by a descending trendline stretching back to December 2024. That trendline pushed back three major rally attempts: one in mid-January near $1.65, another in early March around $1.10, and a third in April near $0.95. Each rejection formed a lower high, keeping ONDO in a clear downtrend.

After a long period of consolidation below this trendline, ONDO price finally broke above it on April 24. The breakout came with a large bullish candle that closed above both the trendline and recent swing highs. The move was also supported by increased volume, signaling renewed buying strength.

Image Source: TradingView.com

Beneath the surface, the ONDO price has been building a strong base. The zone between $0.65 and $0.70 has repeatedly acted as support since March. Price has bounced from that level several times, showing that buyers are active in that range.

More importantly, ONDO has now shifted out of its bearish market structure. The price has formed a higher low around $0.67 and just printed a higher high above March’s peak. This shift suggests a trend reversal, with the $0.85–$0.87 breakout zone now serving as the new support. If ONDO can hold above that area, further upside could follow.

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Moreover, ONDO’s next challenge lies between $1.15 and $1.20, a zone that previously acted as supply. If that level is cleared, the next targets include $1.30 and potentially $1.50, where psychological resistance may come into play.

However, if ONDO drops back below $0.85, the breakout could be considered failed, and sellers may regain control. The $0.65–$0.70 zone remains the key demand area if a correction sets in.

ONDO price has shown a clear technical breakout and early signs of a trend shift. If price holds above $0.85 and pushes past $1.15 with volume, it could trigger a new leg higher.

Until then, the setup offers strong potential but remains at an inflection point. A confirmed move beyond $1.15 would strengthen the case for entering, while a dip below $0.85 could signal caution.

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The post Should You Throw $1,000 Into ONDO Token Right Now? Here’s What the Charts Say appeared first on CaptainAltcoin.

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