Ondo (ONDO) has captured trader attention with a confirmed breakout above $0.87, signaling a possible shift in trend after months of consolidation.
According to crypto analyst Ali Martinez, the token has exited a long-standing descending triangle formation, with technical projections pointing to a potential upside target of $1.60.
The breakout, confirmed by a daily close above the key resistance zone, marks a significant reversal from the downtrend that dominated ONDO’s price action through the first half of 2025. With current prices hovering near $0.94, ONDO is already up over 15% in the past month and showing growing bullish momentum.
Supporting the move is strong on-chain and market data. ONDO’s market capitalization has climbed to $2.97 billion, while its trading volume over the past 24 hours sits at $227 million, despite a slight dip.
The token’s total value locked (TVL) has also increased, reaching $1.39 billion, signaling growing confidence in the underlying protocol.
The descending triangle pattern that ONDO broke out of is typically seen as a bearish continuation setup. However, when price breaks to the upside, it often leads to strong rallies due to trapped short positions and renewed interest from sidelined buyers.
The next major resistance lies near the Fibonacci level around $1.10, followed by the $1.60 projected target if bullish momentum holds. Traders should watch for retests of the breakout zone near $0.87 to confirm support before further upside continuation.
With nearly 3.15 billion ONDO in circulation and a rising holder count of over 146,000, market sentiment is gradually improving. If broader market conditions remain favorable and volume returns, ONDO could be poised for a significant leg higher in the weeks ahead.
