The post ONDO breakout fails, Eyes on $0.979 support appeared on BitcoinEthereumNews.com.

Key Takeaways ONDO transactions ranging from $100K to $1 million have surged by 100%, indicating strong whale participation. Amid the price correction, an expert made a bold prediction that ONDO could reach the $2.80 level. Ondo Finance [ONDO] has failed to sustain its recent breakout, which came after months of struggle. The breakout was invalidated as market sentiment shifted into a correction phase, leading to the formation of a red god engulfing candle that erased the gains and failed the breakout. All of this has occurred over the past three days. Currently, the ONDO price appears to be struggling near $1 and has slipped by 0.35% in the past 24 hours. However, the failure of the breakout after months of effort has reduced trader and investor participation. CoinMarketCap data revealed that ONDO’s trading volume during this period has dropped by 25% compared to the previous day. ONDO price action and key levels to watch  As this sentiment continues, AMBCrypto’s technical analysis has identified the $0.979 level as a key support for ONDO to maintain its uptrend. On both the daily and four-hour time frames, this level appears to be providing strong support. Beyond this, price action is now flashing a bearish signal that ONDO may be repeating its history by falling from a key resistance level, as it has formed a strong engulfing candle at the top of the resistance. Source: TradingView Meanwhile, on the four-hour time frame, the asset appears to be forming a bearish head and shoulders pattern, with $0.979 acting as the neckline. Source: TradingView Given the current market sentiment, ONDO’s upside rally could only begin if the asset regains the $1.13 level. Conversely, downside momentum could start if the price breaks below the local support at $0.979. At press time, the ONDO’s price was hovering below the…

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Filed under: News - @ July 25, 2025 11:34 pm