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🚨 The rebound of stock #ONDOUSDT was perfect
We have previously explained that the rebound of stock #ONDO was corrective, and the price remained confined within a bearish range.
The price rose to the resistance level, then rebounded, and is now approximately 9% below that level 📉
As long as stock $ONDO remains below the descending channel/previous resistance level, the bearish pressure remains the most likely scenario.
For this reason, the price structure is more important than short-term gains. 👀
$ONDO
On the daily timeframe, it appears that the #ONDO stock has broken the descending wedge pattern, but is this a real breakout? We're not sure 👀
3 Warning Signs:
1️⃣ Weak momentum — small breakout candles + a doji candle afterward
2️⃣ Doji candle followed by a red 🔴 candle
3️⃣ Low trading volume and MACD indicator rebound from the bullish zone
Be cautious, and don't let the fear of missing out take over 🧠
$ONDO