ONDO's price, after nearing its yearly low, is now approaching a significant resistance level, boosted by strategic advancements by Ondo Finance. This article explores the token's recent performance, key technical indicators, and fundamental developments driving its potential rebound.
ONDO Rebounds After Yearly Low
The price of ONDO, Ondo Finance’s cryptocurrency, has recently rebounded from its lowest level of the year. Currently trading at $0.078**, the token shows a **13%** increase over the past week. After briefly dropping below the bearish trend on the 4-hour chart, the price sharply recovered from the **$0.62 low observed on June 22. This rebound was accompanied by significant volume, indicating strong buying pressure that quickly brought the price back within the channel range.
Technical Indicators Show Positive Signals
- Moving Averages: ONDO’s price has moved above the 20-day exponential moving average (20 EMA) and the 100-day simple moving average (100 SMA), forming a bullish configuration.
- RSI: The Relative Strength Index (RSI) sits at 59, signaling growing strength without entering overbought territory.
- MACD: The Moving Average Convergence Divergence (MACD) has generated a bullish crossover, with the MACD line entering positive territory.
Outlook and Key Levels
Upside Potential
A breakout above the bearish channel’s upper boundary ($0.082–0.085) could propel ONDO toward:
- $0.090 (intermediate resistance)
- $0.105 (previous peak within the channel).
Downside Risks
Immediate support lies at $0.072. A breakdown below this level may trap the price in the channel short-term.
Fundamental Developments Driving ONDO
Recent initiatives by Ondo Finance have strengthened investor confidence:
- Tokenized US Treasury Bonds: Launched on the XRP Ledger.
- Cross-Chain Settlements: Executed with JPMorgan and Chainlink.
- OUSG-PYUSD Conversion: Enabled instant swaps between Ondo’s fund and PayPal’s stablecoin.
👉 Explore Ondo Finance’s latest innovations
The company also announced the Global Markets Alliance, a coalition including Solana Foundation, Fireblocks, and Trust Wallet, to establish standards for tokenized public securities. This paves the way for Ondo Global Markets, a platform offering non-US investors direct access to US securities.
FAQ Section
1. What caused ONDO’s recent price rebound?
The recovery stems from technical buying pressure and positive fundamentals, including Ondo Finance’s strategic partnerships and product launches.
2. Is ONDO a good investment now?
While technical indicators are bullish, cryptocurrency investments carry high risk. Always conduct personal research and invest within your means.
3. What’s the next major resistance for ONDO?
A breakout above $0.085** could target **$0.105, but failure to hold $0.072 may signal renewed bearish momentum.
👉 Stay updated on ONDO’s price action
Disclaimer: This content is for informational purposes only and not investment advice. Cryptocurrency trading involves significant risk. Consult a financial advisor before making decisions.
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