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- ONDO Price Expectations: Several rejection cases of trend lines, along with a slowdown in bullish momentum, suggest the possibility of a sharper correction.
The price of the ONDO coin hovers around $0.3700 on Wednesday, putting it at risk of a downside move from a crucial resistance trend line.
Retail investors’ sentiment remains positive, with rising trading volume and open interest, and a positive funding rate.
The technical outlook for ONDO stock is slightly bearish, as the trend line continues to limit upward breakout attempts.
- The price of the ONDO coin (ONDO) hovers around $0.3700 USD at the time of writing this report on Wednesday, maintaining a broad corrective phase under the influence of a resistance line. Retail demand for ONDO remains strong, driven by the shift from traditional stocks and other real assets into digital tokens. Technical analysis leans slightly bearish, with fading momentum and the resistance line continuing to curb breakout attempts.
## Retail demand remains steady
ONDO has emerged as a leading alternative currency in the tokenization of real assets, offering many U.S. stocks on the blockchain. Demand for ONDO from retail investors remains strong, as their attention shifts toward alternative currencies with practical utility, away from Bitcoin, which is struggling to stay near $65,000.
CoinGlass data shows an increase in open interest volume for ONDO futures contracts of 1.60% over the past 24 hours, reaching $152.85 million, with trading volume rising by more than 6% to $318.60 million. At the same time, the sharp jump in the funding rate to 0.0035% reflects growing interest from traders, who are accumulating long positions at a price premium.
ONDO derivatives data. Source: CoinGlass
## ONDO party faces difficulties at a major resistance junction
ONDO stock trades under price pressure around $0.3700 on Wednesday after several rebounds from a descending resistance trend line on the four-hour chart. Technically, the 50% Fibonacci retracement level at $0.3859, measured during the drop from $0.4756 to $0.3132, aligns with the trend line, creating a bearish convergence point.
However, the price of ONDO remains below the 20-period simple moving average (SMA), at about $0.3705, which represents the midline of the Bollinger Bands on the four-hour chart. At the same time, the price stays above the exponential moving averages (EMAs) for 50, 100, and 200 periods on the same chart, keeping the overall short-term trend neutral.
The Relative Strength Index (RSI) is approaching 50 on the four-hour chart, while the Moving Average Convergence Divergence (MACD) moves sideways below its signal line, indicating weak momentum and no clear directional conviction at the moment.
Looking downward, the exponential moving averages for 50, 100, and 200 periods, which have clustered above $0.3600, collectively suggest that the underlying structure is still supported. This is followed by an ascending trend line near $0.3550 and the 23.6% Fibonacci retracement level at $0.3457.
Daily price chart of the ONDO/USD currency pair.
In the bullish scenario, initial resistance appears in the mid-range of the Bollinger indicator around $0.3705, followed by the 50% Fibonacci retracement at $0.3859, near the descending trend line. If the price breaks above this level, the next obstacle would be the 78.6% Fibonacci retracement at $0.4349, in case buyers regain control.
$ONDO
#TradFiCFDGoldMaster
On Wednesday, the price of the ONDO coin hovers around $0.3700, putting it at risk of a downside move from a critical resistance trend line.
Retail investor sentiment remains positive, with rising trading volume, open interest, and a positive funding rate.
The technical outlook for ONDO stock leans slightly bearish, as the trend line continues to curb attempts at bullish breakouts.
On Wednesday, at the time of writing, the price of ONDO (ONDO) is hovering around $0.3700, maintaining a broad corrective phase under the influence of a resistance line. Demand from retail investors for ONDO remains strong, driven by the push to convert traditional stocks and other real assets into digital tokens. Technical analysis suggests a slight bearish tilt, with waning momentum and the resistance line continuing to limit breakout attempts.
Retail demand remains steady
ONDO has emerged as a leading alternative currency in the tokenization of real assets, offering many U.S. stocks on the blockchain. Demand for ONDO from retail investors remains strong, as their interest shifts toward alternative currencies with practical utility, away from Bitcoin, which struggles to stay near the $65,000 level.
CoinGlass data shows a 1.60% rise in open interest volume for ONDO perpetual futures over the past 24 hours, reaching $152.85 million, along with trading volume increasing by more than 6% to $318.60 million. At the same time, the sharp jump in the funding rate to 0.0035% reflects growing trader interest, with traders accumulating long positions at a price premium.
ONDO derivatives data. Source: CoinGlass
ONDO party faces difficulties at a key resistance confluence
ONDO stock is trading under price pressure around $0.3700 on Wednesday after several rebounds from a falling resistance trend line on the 4-hour chart. Technically, the 50% Fibonacci retracement level at $0.3859, measured during the decline from $0.4756 to $0.3132, aligns with the trend line, forming a bearish convergence point.
However, ONDO’s price is hovering below the 20-period simple moving average (SMA), at about $0.3705, which represents the midpoint of the Bollinger Bands on the 4-hour chart. At the same time, the price remains above the exponential moving averages (EMAs) for 50, 100, and 200 periods on the same chart, keeping the overall near-term trend neutral.
The Relative Strength Index (RSI) is approaching 50 on the 4-hour chart, while the Moving Average Convergence Divergence (MACD) is moving sideways below its signal line, indicating weak momentum and a lack of clear directional conviction at present.
Looking downward, the exponential moving averages for 50, 100, and 200 periods clustered above $0.3600 collectively point to an underlying structure that is still supported, followed by an upward trend line near $0.3550 and the 23.6% Fibonacci retracement level at $0.3457.
Daily ONDO/USD price chart.
In the bullish scenario, initial resistance appears at the middle band of the Bollinger Bands around $0.3705, followed by the 50% Fibonacci retracement at $0.3859, near the descending trend line. If the price breaks above this level, the next hurdle would be the 78.6% Fibonacci retracement at $0.4349, should buyers regain control.
$ONDO
#TradFiCFDGoldMaster