Stoic-Trader

Price rise was strongly rejected at the August 2024 low, which is now a key level.Nevertheless, I am currently biased to the upside, with a presence of bullish RSI divergence in the daily chart.In this scenario, the recent rise would be a leading diagonal (green 1-5).The gray zone shown in the chart could offer the support needed for a new uptrend leg.

Stellar´s descending wedge (in green), which began last November, has been broken to the upside.Next up is 0.31 resistance (gray zone). If this resistance breaks, a higher high will be made and we´ll be back in bullish mode.The only caveat is the last of RSI divergence on the low, which statistically is more commonly present before a reversal.

We have several bullish confluence indications for ONDO:- Bullish RSI Divergence- Higher High on the Daily- Break of 0.92 resistance, now support- Break of red descending trendlineNext major resistance levels are at 1.20 and 1.60.

The gray descending trendline has been broken, in what looks to be a motive wave (green I-V).I will be looking for green IV corrections, ideally retesting the trendline, for long trades.On the flipside, there is no RSI divergence on the recent low, so the probability that we have seen a bottom is not that big.

After the ABC correction shown in my previous analysis, we have a motive wave to the downside.I´m considering wave 1 to be an extended wave. Therefore, by EW parameters, we would have wave 3 shorter than 1, and wave 5 shorter than 3.Blue resistance is an probable target for wave 4.

Price keeps grinding to the downside, forming the green channel.A break of the channel should lead us first to a test of blue resistance, followed by gray resistance.Price is showing divergence in smaller timeframes, but this is not enough to consider a reversal.

Price broke the black descending channel, in an impulsive (motive) wave, which I´m labeling 1 or A.There is also bullish divergence present in the March low.Corrections for 2/B are buying opportunities.There is very strong resistance just above 4.50, (gray area).

Price found support with divergence in the bottom trendline of the green descending channel for green V.The recovery effort found resistance at the green zone, which I´m considering to be wave a. Let´s see how the correction plays out (green b) for long trade opportunities.

After the new low, bulls finally showed up and the green trendline was broken.I´m considering this to be the first leg to the upside (1 or A), and will be looking for longs after a correction (2 or B).

Gold´s rise doesn´t seem to be close to finished. In my primary count, we will soon finish blue 3 of green III.Pullbacks are buying opportunities.