ONDO Token Jumps 15%, Eyes Further Gains
Key Takeaways
The price of the ONDO token has surged by over 15% within 24 hours. Two key factors suggest further growth potential of up to 66%: a strong technical setup and increasing interest from institutional investors. The current market dynamics support the continuation of the upward trend, provided key resistance levels are broken.
Technical Analysis: Breakout from Downtrend
ONDO has recently experienced a significant technical breakout. The token broke through its downward trend channel and formed an “inverse head and shoulders” pattern – a classic bullish signal in chart analysis. The critical resistance level is around USD 1.60. If this is breached, a price increase of up to 66% is possible. Current support is at USD 0.90. As long as this level holds, the path upward remains open.
On-Chain Data: Strong Growth in Activity and Capital Inflows
Blockchain data shows a significant increase in market activity. Net inflows to large wallets rose by over 6,400% last week, indicating substantial accumulation by major market participants. At the same time, the number of active addresses grew by 47%, suggesting increasing interest among retail investors as well. The rise in new addresses on the network further indicates fresh capital entering the market.
Institutional Interest is Growing
Transactions in the range of USD 10,000 to 100,000 have increased by over 140%. This is a clear indication that institutional investors are increasingly adding ONDO to their portfolios. This trend boosts liquidity and can further strengthen confidence in the token. As long as this trend continues, sustained buying pressure is likely.
Derivative Signals Confirm Bullish Expectations
The derivatives market also supports the positive outlook. Trading volume in ONDO derivatives has increased by over 114% to USD 1.38 billion. Open interest – the total value of all open positions – currently stands at approximately USD 408 million, an increase of over 36%. These figures show that many traders are betting on further price increases. The rise in long positions confirms the optimistic market sentiment.
What to Watch for Now
The key level remains resistance at USD 1.60. A sustained breakout could trigger the next price rally. At the same time, it’s important to monitor the activity of large wallets and overall market interest. If these remain positive, the chances are good that ONDO will continue its upward trend.
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Our Assessment
ONDO is currently showing strong bullish signals – both technically and fundamentally. The breakout from the downtrend, combined with growing institutional interest and positive on-chain data, suggests further growth potential. In the short term, the area around USD 1.60 remains critical. In the long term, the development will depend on the stability of the broader market and continued capital inflows. Those invested in ONDO or considering an entry should closely monitor current developments.
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