Today, the ONDO daily chart forms a distinct descending channel, moving from the $1.10-$1.15 highs down. The price is still being held inside the boundaries of this channel, forming lower highs and lower lows.
Currently, the area around $0.24-$0.26 is a strong support level. The reactions at this level indicate seller exhaustion and a slowing-down move.
The compression of the candle and the constant checks for support indicate that there is not much downside risk unless the token breaks below $0.24 decisively.
As Globe of Crypto, a crypto analyst, says, the fact that it is holding support increases the chances of a relief rally, first to $0.40, and then to the full upside target of $0.52 to $0.53.
Technical Indicators Show Oversold Conditions
The technical indicators are in agreement that the token is in the oversold region. The weekly RSI is close to 27.29, with the signal line at 31.92, indicating strong selling pressure but no sign of reversal.
The MACD is strongly bearish, with the line close to -0.15422, the signal line at -0.13627, and the histogram at -0.01796, as per the chart on TradingView.
SEC Reviews First RWA Platform Token
In a significant development, 21Shares has filed an application with the U.S. Securities and Exchange Commission (SEC) for a spot ONDO ETF, which marks one of the first ETF filings for a Real-World Asset (RWA) platform token.
The application was filed on February 6, 2026, and lists Coinbase as the custodian and Nasdaq as the proposed exchange. A ruling could come sometime between late February and April.
This is significant for institutional participants who seek to leverage tokenized assets. It is suggested that the listing of the ETF could help improve liquidity, enhance credibility, and attract long-term funds into the ONDO token and the broader real-world asset (RWA) market.
Bloomberg ETF analyst Eric Balchunas highlighted the filing of the ETF on X, highlighting that crypto-linked ETFs are growing rapidly despite comprising only about 1% of the market.
Why This Matters
Holding a support level around $0.24-$0.26 in the long term reduces the chances of a downside move and increases the probability of a reversal to $0.52-$0.53.
The ETF filing may bring credibility to ONDO, attracting institutional investors, which may trigger a relief rally.
Also Read: ONDO Near $0.30 Zone Could Trigger Major Recovery
