- ONDO price falls 13% to $1, with a market cap of $3.27 billion.
- Key support is at $1.00, resistance at $1.10; a breakout could push it to $1.20.
Ondo (ONDO) is trading at $1.00, reflecting a 13% decline in the last 24 hours. The market cap stands at $3.27 billion, mirroring the same percentage drop. The trading volume has reached $426.24 million, marking a 3.77% decrease.
The broader crypto market is also experiencing a downturn, with the total market cap dropping by 2.56% to $2.92 trillion. Despite this, the total market volume has increased by 10.16% in the last 24 hours, reaching $126.22 billion.
ONDO is currently trading near a crucial support level of $1.00. If this level holds, a rebound toward resistance at $1.10 could occur. However, if selling pressure intensifies, the price may drop toward $0.95 or even lower.
Bearish Indicators For ONDO
The key resistance level remains at $1.10. A break above this point could push the price toward $1.20, and if bullish momentum strengthens, a test of $1.25 is possible. The market sentiment remains mixed, with technical indicators offering critical insights into ONDO’s potential movements.
The Relative Strength Index (RSI) is currently at 47.16, indicating neutral to slightly bearish momentum. The RSI average stands at 56.20, suggesting that recent buying activity was stronger but has now weakened. If the RSI moves above 50 again, it could signal renewed bullish momentum. On the other hand, a further drop below 40 would indicate oversold conditions, potentially triggering a rebound.
The price is hovering near the 50-period moving average, which suggests indecision. If ONDO breaks above this level, it could indicate a potential uptrend. A bullish crossover between the 50-period and 200-period moving averages would further confirm upward momentum.
The Chaikin Money Flow (CMF) indicator currently sits at 0.07, indicating mild buying pressure. A rising CMF would suggest stronger accumulation, while a drop below zero could indicate increased selling pressure.
If ONDO holds support at $1.00 and breaks through resistance at $1.10, a move toward $1.20 is likely. However, failure to sustain support could lead to further declines. The overall market conditions remain volatile.
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