Ondo Finance Price Action Hints at Bullish Breakout Ahead of $0.50 Target

Ondo Finance's price action has been compressing around its current range, with market participants waiting for a potential bullish breakout. According to crypto analyst Michaël van de Poppe, buyers might step in if the price can reclaim significant resistance levels.

Van de Poppe identified $0.31 as a potential entry level for ONDO should it experience another downward move. However, he prefers to wait for a retracement rather than chasing a breakout.

If a bullish reversal occurs, Van de Poppe estimated $0.50 as the first upside target. To reach this level, buyers would need to overcome several key exponential moving averages (EMAs), which are clustered tightly between $0.35400 and $0.37137.