- temperature
- Metrics announced the opportunity to buy market bulls, but investors should be careful at risk.
OnDO (OnDo) scored 19.8%on Wednesday, and the trading volume at that time was above average. This was encouraging for the bulls of the market. In fact, OnDO has formed a descent pattern (white) for the past two months, but has collapsed beyond the best in the most recent rally.
Nevertheless, the market structure of the chart was still weak.
Source: TradingView onDO/USDT
According to technical analysis, the level of 78.6% of the $ 0.915 was still a key resistance level. It showed a sub -height that Ono needed to win to change the structure. OBV did not create a new height compared to the last week of March. This showed that the buyer was not so strong. The RSI was in neutral 50, indicating potential momentum movement.
Will traders trust the channel brake out for a long time? Well, the indicator showed that there may be a chance to buy.
Since the accumulation trend is still strong
Source: INTOTHEBLOCK
One of the money around the price indicator is that two neighboring support areas for temperature are $ 0.815 and $ 0.791. These were higher than the highest level of falling channels.
Therefore, the channel as a re -test or support of this level will provide a purchase opportunity.
Source: Santiment
Every day, the active speech metric saw a serious decline in the second week of March. Over last week, it has begun to go up again. Increasing chain activities can point out hiking of use and demand.
The average coin era on the 90th has risen steadily with a slight decrease in mid -March since January. The upward MCA may be a signal that the coin is less. At the same time, the ondo dormant circulation system has rarely seen notable spikes in recent weeks.
Together, it pointed out the accumulation. The 90 -day MVRV ratio was also negative and showed that short -term or medium -term holders were facing losses.
The trend of accumulation with the two -month channel was the initial signal that OnDO could be a decent purchase opportunity. Nevertheless, investors should be careful given the weak feelings of the entire market.