As the market shows minor signs of recovery, ONDO leverages the upward momentum with a 10% surge in the past 24 hours, trading at $0.8885**. Reclaiming a **$2.8 billion market cap, ONDO hints at a potential rally toward the $1 milestone.
ONDO Price Analysis
Current Trends
- V-Shaped Reversal: ONDO rebounded sharply from the $0.75** support level, marking a **6% intraday recovery** and trading at **$0.8898.
- Fibonacci Levels: Price hovers near the 78.60% Fibonacci resistance ($0.90), with two consecutive bullish candles after five bearish ones.
Indicators:
- MACD: Signals a potential bullish crossover.
- EMAs: 50 and 200 EMA lines approach a "death cross," indicating caution.
Key Targets
- Upside: A breakout above $0.90 could retest the **200 EMA** near **$1.12–$1.14** (67.80% Fibonacci level).
- Downside: Failure to hold $0.90 may trigger a correction toward **$0.59 support**.
Surge in New Wallets Fuels Optimism
Crypto analyst Ali Martinez highlights a 390% spike in new ONDO addresses (from 935 to 4,559 in 24 hours), reflecting rising demand.
"New ONDO addresses just surged 390%... fueling the ongoing price surge."
— Ali Martinez (Source)
This network growth aligns with the price uptrend, suggesting sustained bullish momentum.
FAQs
1. What’s driving ONDO’s price surge?
- Recovery momentum, new wallet adoption, and technical rebound from $0.75 support.
2. Can ONDO reach $1?
- Likely if it breaks the $0.90 resistance and maintains bullish volume.
3. What are the risks?
- A rejection at $0.90 could lead to a **pullback to $0.59**. Monitor EMAs for trend confirmation.
👉 Stay updated on ONDO’s latest trends
Disclaimer: This content is for informational purposes only. Cryptocurrency investments carry high risks; conduct independent research and consult a financial advisor before investing.
Written by: Sahil Mahadik | Markets Analyst
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