ONDO Price Analysis: Why $5 Remains a Realistic Target This Bull Run

ONDO price has been consolidating between $1.0 and $1.6 from the end of December. The price looks like it could break out either way (bullish or bearish). However, a chart pattern shows that the bulls may come out victorious in the price war with a target of around $5 this bull run.

According to Crypto Patel, with more than 60,000 followers on X, ONDO price trajectory shows promising potential for growth in the current bull market. In his technical analysis shared on February 8th, Patel emphasizes that a $5 target remains not just possible, but highly probable.

The Technical Backdrop for ONDO Potential Rise

The ONDO/USDT trading pair has established a clear ascending channel pattern, with price action consistently respecting both upper and lower boundaries. This structured movement suggests strong market control and predictable trading ranges, making the $5 target particularly compelling.

Crypto Patel chart shows the $1 region as an optimal entry zone, noting the presence of strong historical support between $0.90 and $1.10. This area has repeatedly demonstrated its significance as an accumulation zone where buyers tend to step in aggressively.

ONDO Price Path to $5 and Beyond

In analyzing the price structure, Patel projection shows a potential corrective move toward the $1 support zone before initiating its next major leg up. The ascending channel formation supports this thesis, with the $5 target aligning perfectly with key technical resistance levels.

Read Also: How Much Could 15,000 Hedera (HBAR) Tokens Be Worth by 2026?

While Patel maintains a primarily bullish outlook, he doesn’t rule out even higher potential, suggesting $10 as a possible, albeit more ambitious, target. However, he emphasizes that $5 represents a more conservative and achievable goal for investors.

The analysis hinges on the price maintaining its position within the ascending channel and continuing to respect key support levels.

A key takeaway from Patel’s analysis is the importance of patient entry around the $1 mark, rather than chasing the price at higher levels. This strategic approach aligns with sound risk management principles while maximizing potential upside.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.