ONDO/USDT 2D – Falling Wedge Breakout in Play?

ONDO/USDT is currently forming a highly compelling structure on the 2-day timeframe. Price action suggests a possible breakout from a falling wedge pattern, which is typically a bullish reversal signal.

🔹 Strong Support Zone:
The price continues to respect a significant accumulation zone between 0.65 – 0.73 USDT, which has held as a major support area since September 2023. Multiple successful retests reinforce its strength.

🔹 Descending Trendline Breakout:
The descending resistance line (yellow trendline), connecting lower highs since December 2023, is being tested and appears to be breaking. A confirmed breakout could trigger a strong bullish reversal.

🔹 Potential Upside Targets (Based on Structure and Fibonacci Projections):

TP1: 0.81211 (breakout confirmation level)

TP2: 1.13111 (key horizontal resistance)

TP3: 1.56596 (technical extension zone)

TP4: 2.04123 – 2.14522 (major historical resistance and previous swing high)

🔹 Trade Idea:

Conservative Entry: Buy the retest near 0.73–0.75 USDT after breakout confirmation

Stop Loss: Below the key support zone, around 0.65 USDT

Risk to Reward: Very favorable, with upside potential exceeding +160%

🔹 Confirmation Tips:
Look for a clean breakout with increased volume and a candle body closing above the trendline. A breakout + retest scenario provides higher probability for trend continuation.