ONDO Bulls Eyeing $1 Mark – Will They Break Through? Ondo has been on an upward trajectory, coming close to breaching the elusive $1 resistance level. With an all-time
high of $0.9934 on March 26th, it's currently trading at $0.906, a minor setback of 8.8%.
The market sentiment is
bullish, and the odds are in favor of a breakthrough. A successful push past $1 could ignite a frenzy of price discovery for ONDO.
However, caution is advised as Ondo Finance's Total Value Locked has been stagnant.
The buying pressure remains strong, with the
OBV indicator showing no signs of weakness during the recent pullback.
The support zone at $0.84 held firm, and the
RSI indicates robust bullish momentum.
The Fibonacci extension levels point to
$1.1 and
$1.27 as the next targets for the bulls.
On the flip side, a drop below
$0.68 would signal a bearish shift in the market structure.
Sentiment is firmly in favor of buyers, with holders in profit according to the positive
MVRV ratio and bullish
Weighted Sentiment.
Network Growth has also seen an uptick in the past week, adding to the positive outlook for ONDO.
Remember, this post is not financial advice but rather the writer's opinion on the current state of affairs in the ONDO market.
Disclaimer: This content is for informational purposes only and should not be construed as financial advice.
