ONDO and Pendle Altcoins Positioned for Post-Bitcoin Halving Rally

The crypto market recently witnessed a key development for the approval of Spot Ethereum ETF, which triggered a bullish sentiment among altcoins.

input: A recent crypto market development regarding the approval of Spot Ethereum ETF has sparked optimism among altcoin traders. However, the market encountered a setback as Bitcoin's rapid correction to $67,000 levels seems to have stalled the altcoin recovery that was initiated earlier this week.

Having said that, several analysts now view this pullback as an opportunity for buyers to regain bullish momentum following a strong recovery in May. If buying pressure resumes at these levels, the market could enter a post-Bitcoin halving rally.

Among altcoins, ONDO and Pendle appear poised for a high-momentum market.

ONDO Altcoin Rally Surges 25%

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Over the past two months, the ONDO price has traded sideways within a descending triangle pattern. This pattern is typically considered bearish, with a downsloping upper trendline offering resistance to bullish attempts.

However, with the renewed recovery sentiment in the market, the altcoin price managed to achieve a bullish breakout from the overhead trendline, indicating buying momentum.

This post-breakout rally has pushed the altcoin price up from $0.853, surging by 25% to reach $1.06. If this bullish pattern continues, coin buyers could attempt to drive an extended recovery towards $1.3 and eventually $1.48.

Pendle Price Action Indicates a Major Reversal Rally

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The Pendle coin began its current recovery rally in mid-May when its price bounced off the support at $3.824. This bullish reversal drove the altcoin up by 62% in two weeks, from $3.824 to $6.2.

If we analyze the daily chart, this recovery appears to be forming a rounding bottom pattern. Under the influence of this pattern, the Pendle price could rise another 18% to challenge the neckline resistance at $7.32.

A breakout from this level would provide buyers with support to pursue potential targets at $8.7 and $11.585.output: A recent crypto market development regarding the approval of Spot Ethereum ETF has sparked optimism among altcoin traders. However, the market encountered a setback as Bitcoin's rapid correction to $67,000 levels seems to have stalled the altcoin recovery that was initiated earlier this week.

Having said that, several analysts now view this pullback as an opportunity for buyers to regain bullish momentum following a strong recovery in May. If buying pressure resumes at these levels, the market could enter a post-Bitcoin halving rally.

Among altcoins, ONDO and Pendle appear poised for a high-momentum market.

ONDO Altcoin Rally Surges 25%

TradingView

Over the past two months, the ONDO price has traded sideways within a descending triangle pattern. This pattern is typically considered bearish, with a downsloping upper trendline offering resistance to bullish attempts.

However, with the renewed recovery sentiment in the market, the altcoin price managed to achieve a bullish breakout from the overhead trendline, indicating buying momentum.

This post-breakout rally has pushed the altcoin price up from $0.853, surging by 25% to reach $1.06. If this bullish pattern continues, coin buyers could attempt to drive an extended recovery towards $1.3 and eventually $1.48.

Pendle Price Action Indicates a Major Reversal Rally

Tradingview

The Pendle coin began its current recovery rally in mid-May when its price bounced off the support at $3.824. This bullish reversal drove the altcoin up by 62% in two weeks, from $3.824 to $6.2.

If we analyze the daily chart, this recovery appears to be forming a rounding bottom pattern. Under the influence of this pattern, the Pendle price could rise another 18% to challenge the neckline resistance at $7.32.

A breakout from this level would provide buyers with support to pursue potential targets at $8.7 and $11.585.