Ondo

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<p>Ondo has declined 9.21% from recent highs after rejecting from resistance, but price is now approaching a high-confluence support zone. If demand returns at this level, a bullish reversal could soon follow.</p>
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  <span>Summary</span>
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  <ul>
   <li>ONDO has corrected below the value area low and is approaching $0.83 support.</li>
   <li>$0.83 is a high-confluence zone with POC, 0.618 Fib, and channel low alignment.</li>
   <li>A bullish reversal is likely if demand returns, with volume as the key confirmation signal.</li>
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<p>Following a strong rally, Ondo (<a href="https://crypto.news/price/ondo/" rel="noopener noreferrer nofollow">ONDO</a>) has entered a corrective phase and is now trading below the value area low. This pullback has brought price action toward a critical support region centered around $0.83. This zone aligns with multiple technical confluences, the point of control, the 0.618 Fibonacci retracement, and the low of a local trading channel, making it a high-probability level for demand to re-enter the market.</p>
<h2 class="wp-block-heading" id="key-technical-points">Key technical points</h2>
<ul>
 <li><strong>$0.83 High-Confluence Support: </strong>Point of control, 0.618 Fibonacci, and channel low align at this level.</li>
 <li><strong>Healthy Correction: </strong>Rejection from resistance has brought price to a potential higher low zone.</li>
 <li><strong>Volume is Key: </strong>Bullish volume needs to return at support to confirm demand and validate reversal.</li>
</ul>
<figure class="wp-block-image size-full">
 <img loading="lazy" width="2694" height="1228" src="https://crypto.news/app/uploads/2025/08/ONDOUSDT_2025-08-02_01-25-12.png" alt="Ondo crypto eyes $0.83 support after 9% drop, bullish reversal in focus - 28">
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  ONDOUSDT (1D) Chart, Source: <a href="https://www.tradingview.com" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
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<p>The rejection from resistance was expected after such a strong upside move, and the resulting correction appears structurally healthy. Rather than breaking down market structure, Ondo is approaching a zone that could establish a higher low—an essential characteristic of a continued bullish trend. The $0.83 region now becomes critical. Holding this level could trigger a rotation back toward recent highs and continue the broader uptrend.</p>
<p>From a market structure standpoint, this corrective move does not yet invalidate the bullish thesis. Price has not broken below any major higher low and is approaching a textbook support zone. If support is confirmed through price stability and volume inflows, a higher low will be in place and pave the way for a potential breakout attempt in the sessions ahead.</p>
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<p>The volume profile will be especially important in validating any reversal from this level. Traders should closely monitor for strong bullish volume (blue volume bars) around the point of control. This would suggest that demand is actively stepping in to defend the support and absorb supply. Without this influx, there remains a risk of further drifting or downside continuation.</p>
<p>However, if demand does show up at this level, the probability of a reversal increases significantly. A reclaim of the value area low would then serve as additional confirmation, likely followed by a challenge of the previous resistance levels that caused the initial rejection.</p>
<h2 class="wp-block-heading" id="what-to-expect-in-the-coming-price-action">What to expect in the coming price action</h2>
<p>Ondo is approaching a major support region at $0.83, where bullish confluence suggests a high-probability reversal zone. If strong volume returns, expect a potential bounce and structure continuation. Failure to hold could lead to further downside, but the current correction remains technically healthy within the broader uptrend.</p>
<p>Read more: <a href="https://crypto.news/3-tokens-to-check-out-before-2025-ends-the-next-xrp-dogecoin-shiba-inu/" rel="noopener noreferrer nofollow"> Crypto crash: why are altcoins going down today? (08/01) </a></p>

Ondo crypto eyes $0.83 support after 9% drop, bullish reversal in focus

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