According to Coingecko, in the past 24 hours, the price of Ondo increased by 16% to $2.09, and the trading volume surged by 140% to $882 million.
Previously, World Liberty Financial (WLFI), a project supported by the Trump family, purchased ONDO. The project purchased 134,216 ONDO tokens worth $250,000 and traded them through the CoW protocol.
Additionally, ENA, AAVE, and LINK tokens also experienced an upward trend after the WLFI project purchased these tokens.
The 4-hour chart of ONDO/USDT shows a clear uptrend, with prices rising sharply and breaking through key resistance levels. A clear rounding bottom was formed between late October and November, marking a bullish reversal after months of sideways and bearish trading. A break above $0.85 validated this reversal and triggered a strong uptrend.
Since the breakout, Ondo price has risen parabolicly and is currently at $2.09 having reached a high of $2.14. This movement indicates strong momentum and buying interest.
Ondo price has been stable above the 50-day simple moving average (green line) and the 200-day simple moving average (purple line), indicating that buyers are firmly in control. The steep slope of the moving averages confirms the strength of the current uptrend.
Meanwhile, the relative strength index (RSI) is at 67.25, approaching overbought territory (70+). While not yet overbought, this suggests strong momentum but also hints at possible short-term exhaustion. If the RSI crosses above 70, a minor retracement or consolidation is likely.
The blue Moving Average Convergence/Divergence (MACD) line (0.05826) is above the orange signal line (0.04423), confirming bullish momentum. The MACD-Histogram remains positive, indicating continued buying pressure.
ONDO/USDT chart analysis shows that the asset is in a sustained bull run that aims to push the Ondo price above its current all-time high of $2.14. If the bulls maintain this momentum, the next target could be $2.50 or higher.
However, considering the nearly overbought RSI, a retracement to $1.76 or even close to the 50-day simple moving average at $1.50 before another upward move could occur.
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