Will ONDO slide down to $1.05 soon? Assessing major levels – BitRss

• ONDO 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.