tl;dr
Ondo Finance (ONDO) has risen over 4% in the past 24 hours with a nearly 13% increase in trading volume, following the collapse of MANTRA’s OM token. This has shifted capital toward RWA-focused projects like ONDO, which is showing bullish signals across technical indicators. A golden cross has forme...
Ondo Finance (ONDO) has surged over 4% in the last 24 hours, accompanied by a nearly 13% increase in trading volume. This uptick follows the collapse of MANTRA’s OM token, spurring capital flows into RWA-focused projects like ONDO. Technical indicators reveal promising bullish signals, including a golden cross formation on ONDO’s EMA lines, signaling potential upward momentum toward the $1.20 resistance level.
Despite this positive momentum, ONDO’s Directional Movement Index (DMI) reveals a weakening trend strength, with the ADX dropping from 36 to 28, indicating some cooling off after strong directional moves. The DI (positive directional index) is rising at 25.17 while the -DI (negative directional index) has fallen to 14.36, suggesting growing short-term bullish pressure amid a fragile trend environment. This could point to a potential recovery attempt, although the overall trend remains vulnerable to rapid reversals.
The Chaikin Money Flow (CMF) for ONDO has improved sharply from -0.17 to -0.06, reflecting a notable decline in selling pressure and a resurgence of buyer interest. Even though the CMF remains slightly negative, the quick recovery underscores improving investor sentiment, likely fueled by capital rotation following MANTRA’s OM token collapse and renewed confidence in RWA tokens like ONDO.
Technically, ONDO’s golden cross on the EMA lines signals growing upward momentum, with the immediate target resistance at $0.956. A successful breakout above this level could propel ONDO toward $1.20, attracting more buyers and reinforcing bullish sentiment. Conversely, failure to hold the support level at $0.82 may trigger intensified selling pressure, potentially pushing ONDO down to $0.73 or even $0.66 if bearish momentum persists.
In summary, ONDO Finance stands at a crossroads: building momentum fueled by technical bullish signals and shifting market capital, yet still facing possible corrections if key supports falter. Investors should watch the critical $0.82 support and $0.956 resistance zones closely as ONDO navigates this pivotal phase.