The Ondo Finance (ONDO) token experienced a 15% price surge despite expectations of a drop following a significant token unlock. The surge was driven by strong market sentiment and technical indicators, including a breakout from a descending wedge pattern. The unlock of 1.94 billion ONDO tokens, which represented 134% of the circulating supply, was expected to decrease the price but instead it increased by 15%. This showed that market sentiment remained bullish. A short squeeze also played a role in the price spike as traders expecting a drop were forced to buy back, adding more buying pressure. ONDO's strong fundamentals and support from major investors also fueled positive sentiment. The market distribution of ONDO holders revealed a stable foundation for future price movements and with continued bullish sentiment, the token could experience more upward momentum.



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