Ondo Finance (ONDO) has risen nearly 7% in the last 24 hours, aiming to reclaim a $3 billion market cap following a 38% correction in the past month. The recent price recovery hints at a possible trend change, though breaking key resistance levels is crucial for confirmation.
Indicators such as the DMI and CMF suggest fading selling pressure and increasing buying interest. Should ONDO surpass $0.90, it may rally towards $1.08 and potentially reach $1.20. Conversely, a failure to maintain momentum could see it drop below $0.70.
ONDO DMI Suggests Potential Trend Reversion
Currently, ONDO’s ADX stands at 33.8, a decrease from 40.5 the previous day, indicating that, despite the strong downtrend, its intensity is diminishing. The ADX measures trend strength on a scale from 0 to 100, where values above 25 reflect a strong trend.
The +DI has increased to 21.9 from 11.18, while the -DI has fallen from 34.3 to 24.11, marking a decline in selling pressure alongside an uptick in buying pressure. However, since the -DI remains above the +DI, the downtrend holds steady. Should the +DI continue to rise and cross above the -DI, it might confirm a momentum shift toward a trend reversal.
Ondo Finance CMF Shows Promising Recovery
ONDO’s Chaikin Money Flow (CMF) currently reads 0.07, bouncing back from a low of -0.32 just three days ago. The CMF analyzes buying and selling pressure based on price and volume, with values above 0 indicating accumulation and below 0 showing distribution.
The rise of CMF above 0.05 highlights growing bullish momentum, although ongoing positive readings are necessary for a solid uptrend. If the CMF continues to improve, it could indicate stronger accumulation and support ONDO’s position among top Real-World Asset coins.
Can ONDO Reach $1 Soon?
ONDO has shown recovery after dropping below $0.79, amid a broader correction in major Real-World Asset coins. The recent bounce suggests buyers are entering the market, yet the trend remains uncertain with significant resistance ahead. If ONDO surmounts $0.90, it could rise towards $0.99, and potentially break out to $1.08 or $1.20. Failure to maintain the uptrend and a resurgence of selling pressure could push ONDO back to $0.73, risking a drop below $0.70 for the first time since November 2024.
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