What to know:
- ONDO shows early recovery signs after a prolonged downtrend, with higher lows suggesting a shift toward bullish momentum.
- RSI rising above 57 and price holding above major EMAs signals strengthening bullish momentum and improving trend structure.
- ONDO could target its previous all-time high near $1.16, supported by growing market confidence and adoption.
ONDO price shows signs of recovery after a long downtrend, shifting from accumulation to early bullish momentum. Structure improves with higher lows and strengthening buyer activity. The outlook suggests a possible continuation upward if momentum holds and resistance is cleared.
At the time of writing, ONDO is trading at $0.3651 with a 24-hour trading volume of $156.04 million and a market capitalization of $1.77 billion. After the 5.92% gain over the last 24 hours, the ONDO price structure and improving network growth point to a bullish reversal ahead.
Source: CoinMarketCap
ONDO Price Setup Targets Previous ATH Around $1.16
According to the crypto analyst noncler, there seems to be evidence of a possible changeover for ONDO from accumulation mode to expansion after a significant downward trend period.
There is a formation of a clear double bottom, which indicates that sellers have exhausted themselves while buyers appear more defensive on the price front around the $0.20 area.
Source: Noncler’s X Post
This market is observing the capacity of this structure formation to withstand, along with the potential for a gradual retest towards the previous high of $1.16. It is quite far away from this level, but ONDO maintaining its higher low makes the bull thesis intact. If there is more momentum, the price action may push into areas of increased liquidity.
Also Read: ONDO Price Breakout Signals Major Move Toward All-Time High Retest
RSI and EMAs Point to Increasing Bullish Strength
According to TradingView, ONDO has exhibited a clear trend of bullish recovery following a local bottom around $0.3160. ONDO is currently trading at $0.36863, marking a rise of +1.29% since then. The bullish momentum of ONDO is pushing its price above the 20, 50, and 200 EMAs, indicating a shift towards a bullish reversal.
Source: TradingView
In addition, the price encounters dynamic resistance from the 100-period exponential moving average (EMA) at $0.36698. Overcoming this barrier is necessary for further advancement toward $0.4000. In line with this, the 14-period relative strength index (RSI) has moved up to 57.30 and crossed above its signal line at 45.86.
Ondo Finance’s Role in the New Era of Digital Assets
The data from Ondo Finance further highlighted that Tokenization is currently playing an active role in redefining the future of global finance, with infrastructure companies building out the necessary components required for creating a programmable market.
This is where Ondo Finance comes in by setting up systems that aim to bridge the gap between conventional financial systems and blockchain-based financial systems.
Source: Ondo Finance’s X Post
Unlike the traditional financial system that has always been intermediary-driven and exclusionary, the concept of tokenization presents a much more liberal approach.
Tokenization allows for the division of ownership rights to real-world assets and brings those rights into the blockchain. This makes it easier to participate and eliminates barriers, hence making it a more accessible model of finance.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: ONDO Climbs 14% While RSI Signals Potential Breakout
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