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The post <a href="https://coinpedia.org/price-analysis/ondo-price-eyes-breakout-fibonacci-levels-suggest-50-upside/">ONDO Price Eyes Breakout, Fibonacci Levels Suggest 50% Upside</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the crypto market witnessing a fresh breeze of high momentum recovery last night, the <a href="https://coinpedia.org/news/crypto-expert-list-top-10-must-have-altcoin-picks-for-2024/">altcoins</a> project strong reversal chances. The <a href="https://coinpedia.org/price-analysis/top-memecoins-display-mixed-sentiment-doge-or-shib-which-to-buy/">meme coins</a> spearhead the bull run, but the DeFi tokens manage to enter the top performers chart. Amidst such tokens, ONDO Finance made a remarkable price jump, restarting a positive cycle.&nbsp; 
Moreover, the rise in bullish momentum teases a bullish breakout of a volatility contracting pattern. Will ONDO price give a breakout for a prolonged uptrend in 2024?&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="h-ondo-finance-performance">ONDO Finance Performance</h2> 
With a bullish recovery of almost 13%, the ONDO price reflects a new bull cycle. However, the overall side trend sustains in the 4H chart and demands a longer jump for an uptrend.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796.png" alt="" class="wp-image-293853" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/24124406/image-796-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/IQ7dQ6Wj/">TradingView</a> 
Following the bullish failure to sustain above $1, the sideways trend forms a symmetrical triangle in the 4H chart. However, the 50 and 200 EMA maintain a positive trajectory and provide dynamic support to ONDO price.&nbsp; 
The recovery rally started with a push from the 200 EMA and is headed beyond the $0.88, or the 50% trend-based Fibonacci level. With this, the chances of a bullish recovery with the overhead trendline breakout.&nbsp; 
Further, the 105% rise in trading volume bolsters the recovery rally and increases the bullish breakout possibility. Moreover, the recent bounce back limits the chances of a death cross in the 4H chart between the 50 and 200 EMA.&nbsp; 
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Technical Indicators:&nbsp; 
MACD: The bullish crossover in the MACD and signal lines supports the possibility of trend reversal and reflects an increase in demand.&nbsp; 
<h2 class="wp-block-heading" id="h-will-bulls-drive-ondo-price-beyond-1">Will Bulls Drive ONDO Price Beyond $1?</h2> 
Currently, the ONDO token trades at $0.8755 with a market cap of more than a Billion dollars. However, the bullish reversal needs to surpass the overhead trendline for an extended run.&nbsp; 
As per the trend-based Fibonacci levels, the breakout rally could aim at the 1.618 level at $1.32, accounting for a 50% hike.&nbsp;

ONDO Price Eyes Breakout, Fibonacci Levels Suggest 50% Upside

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