ONDO is experiencing significant downward momentum, declining over 5% in the past 24 hours and 19% across the last 30 days. With a market capitalization of approximately $2.5 billion, it trails competitors like Chainlink and Mantra, highlighting its current struggle to regain bullish traction.
Key Technical Indicators Reflect Fragile Sentiment
RSI Rebounds from Oversold Territory
ONDO’s Relative Strength Index (RSI) has risen to 34 after briefly dipping to 27.5, signaling a partial recovery from oversold conditions. Earlier this week, the RSI stood at 54.39, illustrating the rapid shift in momentum.
RSI Interpretation:
- Below 30: Oversold (potential undervaluation).
- Above 70: Overbought (risk of correction).
While the RSI’s climb above 30 suggests easing sell pressure, the reading remains low, indicating lingering market fragility. A sustained recovery above 40–50 could signal bullish momentum, but a drop below 30 may renew downside risks.
👉 How RSI impacts crypto trading strategies
Whale Activity Points to Bearish Shifts
The number of whale addresses (holding 1M–10M ONDO) peaked at 195 in late March but has since retreated to 191. This decline suggests:
- Profit-taking or reduced exposure by large holders.
- Potential short-term downward pressure if accumulation pauses.
Historically, whale distribution phases often precede price corrections, implying ONDO may face resistance until confidence rebounds.
Price Outlook: Critical Support at $0.70
Downside Risks
- EMA lines align bearishly, targeting $0.73 support.
- A breakdown below $0.70 (last seen in November 2024) could intensify losses.
Upside Potential
- A reversal above $0.82** resistance may trigger recovery toward **$0.90–$0.95.
- Sector-wide RWA momentum could propel ONDO past $1.00**, targeting **$1.23.
FAQs
Q: Why is ONDO underperforming compared to other RWA tokens?
A: ONDO’s weaker adoption and whale sell-offs have contributed to its lag behind peers like Mantra.
Q: What does the RSI rebound mean for ONDO?
A: While it hints at reduced selling pressure, sustained recovery requires RSI stability above 40 and renewed buying volume.
Q: How significant is the $0.70 support level?
A: A break below this psychological threshold could trigger panic selling, while holding it may attract bargain hunters.
👉 Real-world asset (RWA) tokens explained
Final Thoughts
ONDO’s trajectory hinges on whale behavior and sector trends. Traders should monitor RSI trends, whale accumulation patterns, and the $0.70–$0.82 range for directional cues.
Disclaimer: Analysis is for informational purposes only. Cryptocurrency investments carry inherent risks.
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