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Ondo (ONDO) To Rise Further? Key Harmonic Pattern Hints at Potential Upside Move

Ondo (ONDO) To Rise Further? Key Harmonic Pattern Hints at Potential Upside Move

CoinsProbeCoinsProbe2025/08/28 18:20
By:Nilesh Hembade

Date: Wed, Aug 27, 2025 | 10:10 AM GMT

The cryptocurrency market is staging a notable comeback from recent volatility. Ethereum (ETH) briefly dipped to $4,320 before rebounding to current level of $4,600, lifting sentiment across the broader altcoin market.

ONDO turned green today with a $4 gain, and its latest chart structure suggests that more upside may be on the way.

Ondo (ONDO) To Rise Further? Key Harmonic Pattern Hints at Potential Upside Move image 0 Source: Coinmarketcap

Harmonic Pattern Hints at Potential Upside

On the daily chart, ONDO is forming a Bearish Butterfly harmonic pattern. While its name suggests a bearish bias, the CD leg of this pattern often delivers a bullish continuation as the price enters the Potential Reversal Zone (PRZ).

The structure began at point X ($1.1697), corrected down to A, rallied to B, and then retraced lower to C near $0.8762. Since then, ONDO has started recovering and is now trading around $0.9380, though it remains in the early stages of confirming a breakout.

Ondo (ONDO) To Rise Further? Key Harmonic Pattern Hints at Potential Upside Move image 1 Ondo (ONDO) Daily Chart/Coinsprobe (Source: Tradingview)

One key technical level is the 50-day moving average ($0.9738). A strong reclaim above this line could flip it into support and set the stage for further upside momentum.

What’s Next for ONDO?

If bulls manage to defend 100 day MA ($0.8986) or the C-point support at $0.8762 and push the token above the 50-day MA, continuation could drive ONDO toward the PRZ between $1.2582 (1.272 Fibonacci extension) and $1.3708 (1.618 extension). These levels are typically where the Butterfly pattern completes, making them crucial zones to watch.

However, if ONDO fails to hold the $0.8762 support, the setup would weaken, potentially delaying any bullish continuation and exposing the price to further downside testing before a recovery attempt.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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