ONDO Technical Analysis Feb 5

ONDO has declined to the $0.23 level in a sharp downtrend, reaching the oversold region; while RSI at 23 gives bottom signals, MACD and Supertrend bearish signals confirm the strong decline. Bitcoin’s downward movement creates additional pressure for altcoins, but positive news flow may offer short-term recovery potential.

Executive Summary

ONDO’s technical chart shows a strong bearish structure at the $0.23 level with a 15.42% loss in the last 24 hours. Despite oversold RSI, the price remaining below the EMAs continues in the downtrend supported by Bitcoin correlation and high-volume sales; short-term supports are critically important.

Market Structure and Trend Status

Current Trend Analysis

ONDO is moving within a clear downtrend on daily and weekly charts. The price is below the EMA20 ($0.31) level and has recorded a sharp decline from $0.28 to $0.23 in the last 24 hours. The Supertrend indicator is giving a bearish signal and positioning $0.34 as resistance. Multi-timeframe analysis (1D/3D/1W) has identified 8 strong levels: 1 support/2 resistances on 1D, 1 support/0 resistance on 3D, 2 supports/3 resistances on 1W. This structure shows the dominance of the downward trend, but oversold conditions may trigger short-term reaction buys.

Structural Levels

Upper structure: High trendline broken, price stuck to the lower band of the channel. Lower structure: Low bottom levels being tested, $0.2339 main support. The overall market structure resembles a bearish flag formation; if broken downward, new lows can be targeted. Spot market and futures contracts should closely monitor these levels.

Technical Indicators Report

Momentum Indicators

RSI(14) at 23.28 in the oversold region (below 30), signaling bottom momentum but no divergence. MACD histogram negative and bearish crossover completed; signal line accelerating below zero. Stochastic %K around 15, confirming oversold. Momentum indicators generally maintain selling pressure, but RSI’s low level carries short-term bounce potential.

Trend Indicators

Price below EMA20 ($0.31), EMA50 (around $0.35), and EMA200 ($0.42) strengthens the bearish short-to-medium term outlook. Supertrend has made an ATR-based bearish flip, resistance at $0.34. Price below Ichimoku cloud, Tenkan-Sen crossover downward. All trend indicators provide downtrend confirmation.

Critical Support and Resistance Analysis

Supports: $0.2339 (score 80/100, strong 1D/3D level, volume accumulation zone), next $0.20 psychological and 1W support. Resistances: $0.2475 (score 77/100, short-term first hurdle), $0.2936 (score 63/100, near EMA20), $0.34 Supertrend. Multi-TF confluence: 1W resistances concentrated in the $0.30-0.35 band. If price loses $0.2339, bearish target $0.0161 (score 22) activates; if holds, bullish $0.3994 (score 13) comes into play with low probability. Fibonacci retracement: 61.8% level around $0.24 consistent.

Volume and Market Participation

24-hour volume at $127.70M high, selling volume dominant supporting the decline (no negative OBV divergence). Volume profile: $0.25-0.28 band high node, POC $0.26. Volume increase at low levels may tire sellers, but high vol synchronized with BTC dump is bearish. Futures open interest declining, long/short ratio 0.85 (short dominant).

Risk Assessment

From current $0.23, bearish target $0.0161 is 93% downside (risk/reward 1:4 attractive for shorts), bullish $0.3994 is 73% upside (1:2.5 long, low score). Main risk: Quick bounce from oversold RSI, BTC recovery. Volatility high (ATR 10+%), stop-loss suggestion: Below $0.2339 for longs, above $0.2475 for shorts. Overall R/R favors shorts, market structure fragile.

Bitcoin Correlation

BTC at $65,280 level with 11.88% decline in downtrend, Supertrend bearish. ONDO correlates 0.85 with BTC; if BTC supports $65,385/$60,366/$52,259 break, additional dumps expected in altcoins. Resistances $68,322/$70,886. BTC dominance increase creates alt pressure; if BTC holds below 65k for ONDO, $0.20 can be tested, in recovery monitor $0.28 resistance.

Conclusion and Strategic Outlook

ONDO technical chart bearish dominant: Trend not broken despite oversold conditions, volume confirms sales. Positive news (MetaMask integration with tokenized assets) may add long bias, but BTC context keeps cautious. Strategy: Wait for $0.2339 support test, if holds opportunity for short-cover to $0.2475; on breakdown short to $0.0161 target. Long-term investors may consider bottom accumulation, but risk management essential. Full outlook: Short-term bearish, medium-term neutral-bearish.