Date: Wed, Aug 27, 2025 | 10:10 AM GMT
The cryptocurrency market is staging a notable comeback from recent volatility. Ethereum (ETH) briefly dipped to $4,320 before rebounding to current level of $4,600, lifting sentiment across the broader altcoin market.
ONDO turned green today with a $4 gain, and its latest chart structure suggests that more upside may be on the way.
Harmonic Pattern Hints at Potential Upside
On the daily chart, ONDO is forming a Bearish Butterfly harmonic pattern. While its name suggests a bearish bias, the CD leg of this pattern often delivers a bullish continuation as the price enters the Potential Reversal Zone (PRZ).
The structure began at point X ($1.1697), corrected down to A, rallied to B, and then retraced lower to C near $0.8762. Since then, ONDO has started recovering and is now trading around $0.9380, though it remains in the early stages of confirming a breakout.
One key technical level is the 50-day moving average ($0.9738). A strong reclaim above this line could flip it into support and set the stage for further upside momentum.
What’s Next for ONDO?
If bulls manage to defend 100 day MA ($0.8986) or the C-point support at $0.8762 and push the token above the 50-day MA, continuation could drive ONDO toward the PRZ between $1.2582 (1.272 Fibonacci extension) and $1.3708 (1.618 extension). These levels are typically where the Butterfly pattern completes, making them crucial zones to watch.
However, if ONDO fails to hold the $0.8762 support, the setup would weaken, potentially delaying any bullish continuation and exposing the price to further downside testing before a recovery attempt.
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