ONDO — Reversal or more Pain ahead?

After a strong rally back in 2024, ONDO topped at $2.15 — completing a clear 5-wave impulsive move. Since then, price has entered a prolonged downtrend, dropping over -70%, with no confirmed reversal signs yet.

We’re now trading around a critical zone near $0.70. So the question is: where’s the next potential bottom?

🔎 Technical Breakdown:

📍 VWAP Breakdown:
The yellow anchored VWAP (Volume Weighted Average Price) has been lost — a clear sign of market weakness. This VWAP was previously acting as support but has now flipped to resistance, which often precedes continued downside.

📌 Key Support Zone:
$0.80–$0.70 was a structural support area that has now been broken — another bearish sign.

📉 Fibonacci Confluence:
Taking the structure and applying a Fibonacci retracement, the 0.786 retracement lies at $0.4828 — let’s round that to a critical $0.50 zone. This level is important for several reasons:

• Liquidity rests at a previous key low at $0.50128
  
• Anchored VWAP Band (0.618 multiplier) aligns with the same area
  
• The 8/1 Gann Fan also intersects around this zone
  

All roads lead to the $0.50 level as a potential high-probability reversal zone. A bounce from here — especially with volume confirmation or reversal candlesticks etc. — would be a signal worth watching.

💡 Educational Insight: Importance of 0.786–0.886 Fibonacci Zone + VWAP

While many focus on the 0.618 retracement, bear markets often go deeper.

The 0.786–0.886 zone is where emotional exhaustion kicks in — traders give up, liquidity pools build, and smart money steps in.

Combining this with Anchored VWAP adds precision:
VWAP reflects where the “average buyer” is positioned. When price reaches confluence with both deep fibs and VWAP fib bands, you have a statistically powerful setup for reversals.

🚨 Note: These zones are not automatic buy levels — watch for confirmation signs before entering.

🛎️ Set your alerts, stay patient, and as always let the trade come to you.
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