CandleFocus Traders Anticipate Significant Price Upswing as ONDO Stabilizes: Another ATH Coming?
2024-10-09
Author: Content Editor
The cryptocurrency ONDO is currently trading between $0.66 and $0.84, indicating a period of stabilization and potential for a breakout. Traders are closely monitoring support at $0.58 and resistance at $0.88. The price of ONDO recently dipped 4.9% but has shown a notable increase of 19.1% over the past month. ONDO Finance has surpassed $2.2 billion in the tokenized treasuries market, indicating significant growth. The moving averages suggest a neutral trend, while the RSI and Stochastic level indicate that ONDO is not overbought or oversold. If the price breaks through $0.88, traders may target $1.04, but a dip below $0.58 could lead to a drop to the next support at $0.43. On-chain metrics show promising growth in the Ondo ecosystem, with increased Total Value Locked and whale activity. However, daily active addresses for Ondo remain low, indicating dwindling demand.
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