$ONDO

‌
The market structure has shifted from a bearish downtrend to a bullish reversal after a significant "impulse" move. We can see a clear break of structure to the upside, breaking above the previous consolidation zone around 0.3500 and peaking at 0.3901. Currently, the price is in a retracement/consolidation phase, holding above the middle Bollinger Band (MB: 0.3743) and the moving averages (MA5 and MA10), suggesting the bullish trend remains intact but is taking a breather.

The recent price action shows a massive green candle that pumped the price to 0.3901, followed by a series of smaller red and green candles indicating a cooling off. The price is currently compressing near the 0.3710 level, trading just below the middle Bollinger Band. The Bollinger Bands are widening slightly, but the price is struggling to break the upper resistance. We are seeing a "flag" or "pennant" formation, which is typically a continuation pattern.

Trading Plan

· Entry: Wait for a bullish confirmation (a green candle closing above 0.3745) to re-enter long. Alternatively, buy the dip near the lower Bollinger Band (LB: 0.3665) with a tight stop.
· Take Profit (TP): First target at the 24h High (0.3900). Secondary target at 0.3950+.
· Stop Loss (SL): Place a stop loss below the recent swing low or the Lower Bollinger Band at 0.3650.

I predict a bullish continuation. The price is consolidating after a strong pump, and the MACD is still positive (DIF 0.0023 > DEA 0.0030, though converging). If the price holds the 0.3665 support level, I expect a breakout above 0.3743 to test the 0.3900 resistance again.

What Trade Plan I Follow and Why

I will follow the Trend Continuation Plan. The reason is the strong upward momentum shown by the large volume spike and the bullish MACD. The current pause is likely accumulation before the next leg up. I will not short this market because fighting the strong uptrend after a volume breakout is risky.

When I Start My Trade

I will start my trade when the 1-hour candle closes above the Middle Bollinger Band (0.3743) or if I see a strong bounce off the 0.3665 level with increasing volume. I am waiting for the volatility to return.

The chart shows a "Bullish Flag" or "High Tight Flag" pattern. The massive green candle is the "pole," and the small red/green candles following it represent the "flag." This is a high-probability continuation pattern.

Bullish. The trend is up, volume is supporting the move, and the price is holding key support levels. The setup favors long positions until the 0.3650 level is broken.#GateRanksThirdIn24HNetInflows