- Whale’s $3.8M ONDO loss signals strategic portfolio shifts and market implications.
- ONDO shows bullish signs as resistance at $1.267 and RSI suggest potential reversal.
- Surging $257.53M ONDO volume reflects growing interest amid inflows and price recovery.
A whale recently executed a major transaction, selling 10.97 million ONDO tokens for $13.57 million USDC. This sale, at $1.23 per token, resulted in a loss of $3.8 million after holding the asset for three months.
The whale initially acquired ONDO by selling 4,610.74 stETH valued at $17.38 million. This development reflects strategic shifts in the whale’s portfolio, hinting at broader implications for ONDO’s market dynamics and related tokens.
A whale has sold 10.97M $ONDO for $13.57M $USDC at a price of $1.23, facing a loss of $3.8M after holding for 3 months.
— Onchain Lens (@OnchainLens) January 17, 2025
The whale accumulated $ONDO by selling 4,610.74 $stETH worth $17.38M.
The whale has also sent $7M $USDC to #HyperLiquid and bought 84,873.81 $HYPE for $2M… pic.twitter.com/sHOztHwhmA
ONDO Price Movement and Key Support Levels
ONDO’s current price stands at $1.27, representing a 3.24% rise over the past 24 hours. The token exhibited an uptrend throughout the day, starting at $1.2293 before reaching $1.267.
Minor pullbacks during the session were insufficient to reverse its bullish momentum. The most significant support level remains $1.2293, marking the day’s low and the base for the ongoing upward trend.
Resistance near $1.267 poses a challenge, as the price has tested this zone repeatedly without a clear breakout. A move beyond this level could trigger further buying activity, potentially strengthening the bullish sentiment.
Volume and Market Sentiment Reflect Renewed Interest
The trading volume surged to $257.53 million in the past 24 hours, a notable 23.98% increase. This indicates heightened participation and growing interest in ONDO. The token’s inflow and outflow trends also highlight its volatile nature.
Periods of strong inflows in June and December corresponded with price rallies, peaking above $2.00. However, heavy outflows between July and September suppressed prices. Recent inflows in January suggest renewed confidence, stabilizing the price around $1.50.
RSI and MACD Indicate a Potential Reversal
The Relative Strength Index (RSI) stands at 42.87, below the neutral 50 mark, signaling lingering bearish momentum. However, this position leaves room for a potential upward reversal. Additionally, the MACD indicator shows convergence, pointing to reduced selling pressure and the likelihood of a bullish crossover in the near future.
