{"id":6581,"date":"2025-08-02T17:13:39","date_gmt":"2025-08-02T17:13:39","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ondo-on-the-edge-hovers-above-poc-as-bulls-defend-double-bottom\/"},"modified":"2025-08-02T17:13:47","modified_gmt":"2025-08-02T17:13:47","slug":"ondo-on-the-edge-hovers-above-poc-as-bulls-defend-double-bottom","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ondo-on-the-edge-hovers-above-poc-as-bulls-defend-double-bottom\/","title":{"rendered":"ONDO on the edge, hovers above POC as bulls defend double bottom"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">ONDO has entered a corrective phase, but the technical structure remains bullish. The price is now testing a high-confluence support zone that could trigger a fresh upward move.<\/p>\n<div id=\"cn-block-summary-block_09c503578f827b8cd1128ef7a103c1b5\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>ONDO rejected from $1.19 and is now trading towards the point of control at $0.83<\/li>\n<li>A double bottom pattern is forming, with $1.19 as the neckline and $0.67 as the key support<\/li>\n<li>The correction is viewed as bullish unless price breaks below the high-timeframe support at $0.67<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The recent rejection of ONDO (ONDO) from high-timeframe resistance at $1.19 led to the loss of the value area high, triggering a short-term correction. <\/p>\n<p>At last check on Saturday, the token was trading at $0.87. The overall trend remains constructive as long as price action holds above the point of control (POC) at $0.83. This level now acts as the key technical zone to watch in the immediate term.<\/p>\n<h2 class=\"wp-block-heading\">Key technical points<\/h2>\n<ul class=\"wp-block-list\">\n<li><strong>POC at $0.83 as Key Support: <\/strong>Aligned with the 0.618 Fibonacci retracement and structure<\/li>\n<li><strong>Double Bottom Potential: <\/strong>Still forming as long as price stays above $0.67 high-timeframe support<\/li>\n<li><strong>Bullish Correction:<\/strong> Current decline is a natural retracement from resistance in an uptrend<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14401378\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">ONDOUSDT (1D) Chart, Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\" target=\"_blank\">TradingView<\/a><\/figcaption><\/figure>\n<p>The loss of the value area high was the first signal of weakness following the rejection at $1.19. This region had acted as a previous level of support but failed to hold on the most recent test. Despite this, price is now approaching the point of control around $0.83, which is backed by technical confluence including the 0.618 Fibonacci retracement. This makes the zone a high-probability region for support and potential reversal.<\/p>\n<p>From a structural standpoint, ONDO\u2019s price action still fits within a larger bullish narrative. A double bottom formation appears to be developing from the high-timeframe support at $0.67. As long as price does not break below that region, the pattern remains intact. A successful bounce from the point of control would form a higher low, reinforcing bullish structure and keeping the double bottom setup in play.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>A decisive push from the $0.83 region, especially if supported by volume, would signal demand re-entering the market. That could open the door for a retest and eventual break of the $1.19 resistance level, which currently serves as the neckline of the double bottom formation. A breakout above this level would officially activate the pattern and target higher resistance at $1.56.<\/p>\n<p>It is worth noting that despite the correction, the trend remains upward as long as the market continues to print higher lows. The recent selloff appears to be a natural pullback within an ongoing bullish environment rather than a full reversal. This makes the $0.83 region especially important from a trading and structural standpoint.<\/p>\n<h2 class=\"wp-block-heading\">What to expect <\/h2>\n<p>ONDO is currently trading towards the point of control at $0.83, a critical level for bullish continuation. If this support holds, the next move could be a breakout above $1.19, officially activating the double bottom. Failure to hold would shift attention to $0.67, but the overall structure remains bullish unless that level is lost.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ONDO has entered a corrective phase, but the technical structure remains bullish. The price is now testing a high-confluence support zone that could trigger a fresh upward move. Summary ONDO&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6581"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6581\/revisions"}],"predecessor-version":[{"id":6582,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6581\/revisions\/6582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1067"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}