- ONDO faces key resistance at $1.51, with support at $1.36 and $1.21; breaking higher could push price toward $1.60 or beyond.
- Analysts see ONDO in a bullish setup, with Fibonacci and wedge patterns suggesting a potential rally toward $2.76 – $3.40.
- ONDO’s fundamentals remain strong, with its RWA focus, Solana integration, and Ondo Summit driving institutional interest.
Ondo (ONDO) recently has had increased market activity and bullish signals. At the time of publication, on January 25, ONDO was trading at $1.43, a 1.56% decline in the last 24 hours but a 6.52% gain over the past week.
The token has a $4.53 billion market cap, further showing its growing prominence. According to analyst Ali, ONDO’s price momentum shows potential for a breakout, fueled by technical patterns that suggest a continuation of its upward trend.
Short Term Price Movement and Trends
ONDO has had a short term uptrend. The price has tested key levels, including a recent high of $1.45, before encountering selling pressure near the upper Bollinger Band. Immediate support is at $1.36.
Stronger support at $1.21 could be pivotal in case of downward movement. Bollinger Bands show crucial resistance at $1.51. If ONDO maintains its position above $1.36, it may sustain bullish momentum.
The MACD also indicates strength, with its line above the signal line and a positive histogram. Analysts suggest that surpassing $1.51 could lead to ONDO’s rally, potentially targeting the $1.60 psychological level.
What Support’s ONDO’s Position
ONDO’s fundamentals further boosts its price movements. The upcoming Ondo Summit on February 6, featuring participants from BlackRock and Goldman Sachs, shows its growing influence in tokenizing real world assets (RWA).
As a leader in the RWA market, Ondo Finance’s U.S.based operations provide regulatory clarity and investor confidence. Moreover, ONDO’s integration with the Solana blockchain enhances its efficiency and scalability, appealing to institutional and retail investors.
Recent price performance also aligns with broader technical patterns. After breaking its all time high of $2 last month, ONDO entered a consolidation phase within a falling wedge. This correction, together with a bounce from a golden pocket level, resulted in a 30% surge over the last 10 days.
Analysts’ Perspectives on ONDO
Looking at a longer-term view, analysts see heightened potential for ONDO. Rose notes that on the 2D timeframe, ONDO is consolidating within the Fibonacci zone, holding the 0.618 support level. This and a bullish breakout from the descending wedge, suggests early stages of a trend reversal. Her target for ONDO is at $2.76567.
Meanwhile, Ali identifies a bull flag formation, with ONDO potentially targeting $3.40 if momentum persists. Both analysts indicate the importance of sustaining key support levels, with upward movement dependent on breaking through strong resistance zones.