Ondo Finance (ONDO) has been showing signs of a possible trend shift in the coming days. This comes after the price broke out of the long-term downtrend and entered a consolidation phase. The price structure has been showing signs of a possible trend shift. However, the price action has been confined within a particular range.
Currently, Ondo Finance is trading near $0.2640, recording a trading volume close to the $104.93 million in the last 24 hours. Ondo Finance has a market capitalization of close to the $1.29 billion. However, the price has been declining by 2.91% in the last 24 hours.
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Ondo Finance Breakout Above $0.292 Triggers Rally
According to a market update shared by Bitcoin Meraklısı, ONDO has successfully broken out of a downtrend that had been in place since September. The price has also been showing a possible retest of the breakout. This has been a possible sign for the price to trigger a rally in the coming days.
The analysis further highlights that ONDO has been moving within a horizontal channel for nearly two months. The extended consolidation phase indicates accumulation, where buyers gradually build positions before a larger move. Such patterns often lead to strong directional moves once resistance or support levels are broken.
At the center of this setup lies the $0.292 resistance level. If the price breaks above the same, the gates will be open for a new wave to begin. If the price continues to gather momentum, other price targets will also come into the picture.
ONDO Price Outlook Targets $0.50 Range
The other factor to consider in the context of ONDO’s price action is the project. ONDO has been focused on the real-world asset tokenization front. This field has been gaining traction in the context of the traditional financial and blockchain industries. Considering the fact that the total value locked in the Ondo Finance ecosystem is over $2.6 billion, the project has established itself as a notable entity in the field.
However, the supply side has also been a factor in the context of the ONDO price. For instance, a significant token supply event in the coming years has been on the investors’ radar. Considering the fact that a significant amount of ONDO will be unlocked in the year 2026, the price action might be affected in the coming years.
From a price perspective, ONDO has the potential to reach a price range of $0.30 to $0.50 in the coming years. These estimates will depend on the growth in the ONDO ecosystem and the tokenization front.
From a technical perspective, the Relative Strength Index (RSI) has been close to the oversold zone. However, the price has yet to move above the long-term averages.
Overall, ONDO appears to be at a critical stage. The recent breakout from its former downtrend and subsequent consolidation suggest that ONDO is ready to make its next move. As of now, it is worth noting that the price level of 0.292 is the major obstacle for ONDO to continue its upward movement.
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