- ONDO ($0.50) declined by 9.55% over the past 24 hours.
- With strong bearish sentiments, an analyst foresees a drop to $1.05.
Since hitting a local high of $2.1 a week ago, Ondo Finance [ONDO] has struggled to maintain an upward momentum.
Over this period, the altcoin has declined to $1.47. In fact, as of this writing, ONDO was trading at $1.51. This marked a 9.55% decline over the past 24 hours. Equally, the altcoin dipped by 19.70% on weekly charts.
The recent market condition has left the crypto community predicting a further dip. Inasmuch, popular crypto analyst Ali Martinez has suggested a potential decline to $1.05 citing the head and shoulders pattern.
Market sentiment
In his analysis, Martinez posited that ONDO was forming a head and shoulders pattern at press time. Thus, if the altcoin closes below $1.48 it could lead to a 30% price correction to around $1.05.
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