ONDO Update: Possible Wave Count and Final Leg Down
ONDO is struggling with the current level, but looks like there is some cyclical reason for a bounce here. The downtrend could be top strong, not allowing the smaller cycle amplitude provide enough push to the upside.
This looks like the ideal path for a scenario where there is upside. If we roll over early, then I expect a longer, more drawn out bottom but less of a plunge.
If we bounce, we get the plunge at the end. If it continues down, it could go as deep as the 2.618 at 10 cents
