Date: Tue, March 25, 2025 | 01:05 PM GMT
The cryptocurrency market is showing strong signs of a rebound as Bitcoin (BTC) and Ethereum (ETH) have both surged by 6% and 9% over the past seven days. This has provided much-needed relief to altcoins that suffered sharp corrections following the late 2024 rallies.
As sentiment gradually improves, the Real World Asset (RWA)-focused token Ondo (ONDO) has gained traction, posting an impressive 11% increase in the past week. After enduring a significant decline over the past three months, ONDO is now showing signs of a potential breakout, with its price action mirroring a past bullish rally that led to an explosive surge.
ONDO Mirrors Past Bullish Breakout
Since reaching its peak at $2.14 in December 2024, ONDO has been in a steady decline, forming a descending channel pattern that extended into early 2025. The price dropped sharply from its highs, eventually hitting a low of $0.73 in early March. However, after this ONDO has started to show early signs of recovery, bouncing from its recent low and currently trading around $0.92.
The chart suggests that ONDO is now on the brink of a potential breakout. A similar falling channel was observed last year, which eventually led to a strong rally of over 234%. The structure of the current price action mirrors this past pattern, indicating that history might be repeating itself. If the breakout is confirmed, ONDO could be in for a significant upside move.
One key technical factor supporting a potential reversal is the 25-day moving average (MA), which currently sits at $1.1468. In ONDO’s previous breakout, a move above this level acted as confirmation of a trend shift, leading to a massive upside. If history repeats itself and ONDO manages to break and hold above this MA, it could confirm a full-fledged recovery.
The next key resistance levels to watch are $1.64 and its all time high of $2.14. These price levels previously acted as strong rejection points, and a sustained move above them could pave the way for an extended bullish rally.
Final Thoughts
With ONDO mirroring its past breakout structure, the token is at a critical juncture. A move above the descending channel and 25-day MA could confirm a trend reversal, setting the stage for a strong recovery. Additionally, the MACD indicator is showing signs of a potential bullish crossover, which could further support upside momentum. If buying pressure increases, ONDO could soon target $1.64 and $2.14, marking a significant upside from current levels.
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