The ONDO coin price just flashed a bullish technical signal. Traders and analysts are watching closely as ONDO attempts to break out of a long-standing descending channel. This may be a potential turning point that might send the asset surging toward a new all-time high.
The 12-hour chart of ONDO/USDT reveals a well-defined descending channel that has governed price action since its peak late last year. The token entered a corrective phase after reaching above $1.20 in December 2024. It formed consistent lower highs and lower lows, creating a downward sloping channel. This correction persisted through Q1 2025 and into early Q2, creating a textbook example of a consolidation range.
However, it took a decisive turn in late April. ONDO coin began compressing within a smaller descending wedge inside the larger channel. On May 7, the price finally broke through the upper resistance of both formations, suggesting the downtrend may have ended.
High-volume green candles and follow-through price action confirmed the breakout. This pushed the ONDO Coin from the $0.85 range toward $0.95, where it’s currently consolidating. Analysts now suggest the asset might be preparing for its next leg up.
ONDO Coin Bullish Case for New Highs
There are several compelling technical and fundamental reasons to anticipate further price increases. The breakout from both the large descending channel and the smaller wedge strongly indicates a shift in market structure. Such formations are typically precursors to bullish moves, mainly when supported by increased volume.
Additionally, the key ingredient in any credible breakout is volume. The rally out of the wedge pattern came with a notable increase in buying activity, which supports the move’s sustainability and signals renewed investor interest.
Furthermore, ONDO Coin is now retesting the breakout zone around $0.90–$0.95. This may act as support before the next impulse move. If this zone holds, it might serve as a launchpad toward higher levels.
The Fibonacci extension tool, which helps identify potential future price points, suggests key targets at the $1.20 zone (previous high), followed by $1.70 and $2.40 in the event of full extension. If momentum continues, the market could price in a full retrace toward ATHs and beyond.
Fundamentally Backed Growth Narrative
Beyond the chart, ONDO Coin is backed by one of the strongest narratives in crypto. It is a tokenized real-world asset (RWA) protocol. As institutions continue their push toward on-chain finance, ONDO stands out as a leading protocol bridging traditional finance and DeFi.
Recently, it presented to the SEC on tokenising publicly traded securities. Its role in structuring tokenized treasuries and yield-bearing assets has gained attention from retail and professional investors.
With ONDO breaking out of an extended multi-month descending channel and posting intense post-breakout price action, momentum is clearly shifting. If buyers defend current levels and volume continues to rise, the path to new all-time highs could materialize faster than expected.
Traders are now watching for a clean daily close above $1.00 to confirm bullish continuation. A rejection here could see a retest, but the structure favors upward expansion.
READ MORE: Polkadot Smashes Through Resistance—Will DOT Hit $10+ Soon?
