Aave

Ondo

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bullish

Reversal

The post <a href="https://coinpedia.org/price-analysis/ondo-price-aims-for-a-30-reversal-run-amid-bear-cycle/">ONDO Price Aims for a 30% Reversal Run, Amid Bear Cycle!&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the broader market faces a massive correction, Ondo Finance shares a similar bearish fate, with a 15% drop this week. The reversal run undermines the triple white soldiers’ pattern formed in the daily chart, accounting for a 16% surge.&nbsp; 
As buyers prepare to overtake trend control as the supply pressure declines. Will this bullish strike result in a price jump to $0.83? Read this analysis until the very end to unravel the same! 
<h2 class="wp-block-heading" id="h-ondo-price-performance">ONDO Price Performance</h2> 
The bearish continuation has led to the ONDO price taking a drop from $0.78 to the bottom support of $0.64. The negative cycle prolongs the consolidation between the newly formed 200-day EMA at $0.78 and the bottom support at $0.64.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="764" src="https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574.png" alt="ONDO Price analysis 30th aug 2024" class="wp-image-344752" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574-1024x489.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574-768x367.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574-1536x733.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/30135358/image-574-150x72.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
Meanwhile, the longer-term trend in Ondo Finance reveals a declining trend line in motion as the altcoin builds lower-high formations. However, with the recent double-top reversal, the Ondo token takes support at the neckline and teases a bullish reversal.&nbsp; 
Currently, the ONDO price trades at $0.65, teasing a potential end to the consecutive bearish candles, with a 0.33%&nbsp; intraday gain. Hence, with the declining intensity of the bearish candles, the bulls prepare for a comeback. 
Technical Indicators:&nbsp; 
RSI: The bullish reversal in the RSI line is significant as the token takes support, teasing a bullish reversal.&nbsp; 
EMA: The bearish trend in the 50D EMA warns of a death cross with the newly formed 200D EMA.&nbsp; 
Thus, the average lines give a bear signal threat despite the momentum indicator teasing a potential reversal.&nbsp; 
<h2 class="wp-block-heading" id="h-will-bulls-cross-the-1-30-threshold">Will Bulls Cross The $1.30 Threshold?</h2> 
Based on the Fibonacci level, the reversal rally could surpass the overhead trendline to challenge the 23.60% level at $0.83316. Beyond this, the next resistance levels are at 38.20% and 50% levels at $0.95 and $1.04, respectively. On the other side, the support levels below $0.64 are present at $0.60 and $0.50. 
Also, read our <a href="https://coinpedia.org/price-prediction/aave-price-prediction/" target="_blank" rel="noreferrer noopener">Aave Price Prediction 2024-20</a><a href="https://coinpedia.org/price-prediction/aave-price-prediction/">30</a>

ONDO Price Aims for a 30% Reversal Run, Amid Bear Cycle!

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