ONDO is currently trading at $0.449, showing an increase of 2.94% in the past 24 hours. The trading volume rose 21.09% and now stands at $86.16 million. Over the last week, the ONDO coin price has gone up by 18.87%, reflecting renewed short-term participation.
Source: CoinMarketCap
This recent price recovery came after a long-term decline. According to the market data, ONDO is stabilizing, having had a few weeks with lower highs and lows. The shift enhanced the short-term sentiment but failed to move the overall trend. Price action is still technically limited.
ONDO Struggles Near Channel Resistance
Analyst CryptoPulse highlighted that ONDO is still trading within a downtrend channel. Since the last decline, this structure has dominated the price action, with the channel resistance limiting each recovery. Although the sequence of candles is increasing, analysts suggest that the larger formation is bearish until a decisive breakout.
The recent increase is more like a relief rally and not a structural change. ONDO is not trading above the major channel high of around $0.485, and the overall trend remains intact. The traders are still paying attention to the price’s reaction toward this resistance range.
Source: X
Also Read: ONDO Eyes Multi-Leg Rally: Key Levels Suggest 2000% Cycle Potential
Analysts also indicated active downside levels of the current setup. A fair value gap of around the $0.40 region is consistent with previous liquidity zones and consolidation areas. A re-entry into this territory would be in line with the general channel pattern and the larger market structure.
Additionally, another analyst, Crypto Patel, mentioned an important Fibonacci demand zone. ONDO is still trading above the 0.786 retracement level. Such a range is between $0.45 and $0.35 following a deep correction. Technically, the price action in this area has been important.
The range of accumulation has been determined to be between $0.45 and $0.35. There is a more profound demand zone between $0.30 and $0.25. The larger structure remains intact above the $0.25 level. These levels still lead to a higher timeframe analysis.
Source: X
A breakout can occur once the structure shifts on higher timeframes. Patel provided long-term upside targets at $1, $2, $4, and higher than levels at over $8. This structure relies on the demand areas holding and the structure staying intact.
RSI and MACD Indicate Strengthening Market Momentum
The Relative Strength Index was at 57.34, while the average RSI was at 42.24. Readings indicated acceleration in momentum and steady purchaser activity. It also suggested that ONDO could either move forward or return to the starting position.
The MACD value was 0.0137, with a signal of -0.0048 and a histogram of -0.0185. This setup was an earlier sign of a move higher, not the beginning of a new trend. Analysts noted that the signals appear to be bullish on improvement, but stronger follow-through would likely confirm a reversal.
Source: TradingView
Also Read: XRP Defends Critical Support While $2.30 Emerges as Make-or-Break Zone
