What to know:
- ONDO price breaks above triangle resistance near $0.328, signaling renewed buying momentum.
- ONDO price could target $0.338 and $0.342 if buyers sustain momentum above the breakout zone.
- Ondo Perps surpasses $8 billion in cumulative trading volume, highlighting rising demand for decentralized perpetual contracts.
Ondo Finance (ONDO) has broken above triangle resistance, signaling renewed buying momentum and strengthening the short-term bullish outlook. Meanwhile, rising activity on Ondo Perps highlights growing demand for decentralized derivatives, supporting broader interest in the ONDO ecosystem and potentially reinforcing its recovery trend.
At the time of writing, ONDO is trading at $0.3335 with a 24-hour trading volume of $62.01 million and a market capitalization of $1.62 billion. Following the 1.29% gain over the last 24 hours, the ONDO price structure and perps’ growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: ONDO Price Prediction: Can $0.32 Support Trigger a Bullish Reversal?
ONDO Price Targets $0.342 After Triangle Breakout
According to the crypto analyst Crypto With Gopal, ONDO has broken decisively above the descending resistance of a triangle pattern near $0.328, signaling that buyers are gaining control after a period of consolidation.
The breakout has strengthened bullish momentum, with the price advancing toward the $0.335 zone. Traders are now watching whether ONDO can maintain its breakout and build further upside momentum.
Source: Crypto With Gopal’s X Post
The next big challenge for the price is the $0.338 level, where persistent buying pressure may validate the breakout, thereby paving the way for the target area of $0.342.
Retaining above the previous resistance around the $0.328 level will make the bullish pattern more favorable, while failure may lead to a test. Currently, positive momentum suggests that ONDO may move higher.
Ondo Perps Hits New Record With $8B Volume
The data from Ondo Perps further highlighted that Ondo Perps has hit a new high by crossing the $8 billion mark in terms of total trading volume, which is a significant achievement for the decentralized derivatives platform.
The open interest has crossed the $90 million level too, signifying the increased activity of traders and indicating large leverage being held by market participants.
Source: Ondo Perps’ X Post
This achievement highlights the increasing prominence of Ondo Perps in the derivatives market that is decentralized. Here, users can trade using leverage for going long or short on assets.
Increasing volume and open interest indicate strong trading activity and liquidity on the exchange. This could help Ondo Perps establish itself more firmly as a trading venue of significance in the future.
What Happens Next for ONDO?
ONDO’s next course of action will depend on its ability to stay above the breakout point of $0.328. The bulls have a chance of driving ONDO prices to $0.338 and even $0.342.
This can be helped by increased trading volumes and open interest in Ondo Perps. ONDO could fail here and test $0.328.
Also Read: ONDO Price Prediction: Can $0.30 Support Spark a Bullish Rally Toward $0.45?
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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