Ondo & This Popular Altcoin Eyes for a Huge Bullish Week Ahead: Will They Trigger a 25% Upswing?
The post Ondo & This Popular Altcoin Eyes for a Huge Bullish Week Ahead: Will They Trigger a 25% Upswing? appeared first on Coinpedia Fintech News
Since the start, the Ondo price has maintained a steep upswing, aiming to mark constant higher highs. Besides, Ethena broke above the bullish pattern and also completed a healthy retracement. Therefore, it appears that both ONDO & ENA prices are preparing for the next price action, which could elevate the levels by a minimum of 10% to 15% before the end of the month.
The markets are approaching the end of the first half of the year and historically, this transition has resulted in a fresh bullish spell as the volume shifts in their favour. Currently, the markets are experiencing an excessive volume squeeze, suggesting a huge drop in trading activity, which is expected to trigger a massive explosion in the coming days. Considering the ONDO price rally, a new ATH above $1.6 is imminent, which may occur in the next few weeks.
The ONDO price is trading within an ascending parallel channel, & after hitting the upper resistance, the token has triggered a 20% pullback. After consolidating along the average range for a while, the price is gearing up for a fresh chase. However, the highs are pretty close to about 10% and hence the next bullish push could rise above these levels in a short while. With this, the next price target for the rally is around $1.63, which may be achieved in the last few days of the month.
On the other hand, Ethena’s price appears to have completed a healthy retracement and hence a fresh upswing could begin very soon.
The bears have exhibited extreme strength in the recent past, due to which the rally recorded huge consecutive bearish candles. Despite this, the RSI managed to halt the ongoing bearish trend and is utilising all its strength to trigger a rebound. However, the MACD displays the presence of bearish strength and hence the token is expected to consolidate below the crucial resistance at $0.766 for a while and trigger a fresh rise towards $1.
Altcoins are displaying strength in times when the Bitcoin price is stuck within a range. Besides, the altcoins are also believed to be heavily undervalued, as they are nearly 80% away from their heights compared to 10% of Bitcoin. Therefore, a momental shift appears to have settled, which may have a significant impact on the prices of Ondo, Ethena (ENA), & the majority of the altcoins.