- Ondo gains 3.41% in 24 hours and rises 1.4% this week.
- The price trades at $1.02, supported by the $0.85–$0.75 zone.
- Resistance stands at $1.18–$1.20, with $1.25 as the next target.
- Open interest rises 4.75% to $472.43 million, signaling stronger participation.
Ondo has shown resilience in the crypto market, gaining momentum despite broader volatility. The token recorded a 3.41% increase in the past 24 hours and secured a 1.4% gain over the week.
At the time of writing, Ondo is trading at $1.02, with a trading volume of $94.23 million, down 41.57% on the day. Its market capitalization stands at $3.22 billion, positioning it among the stronger-performing mid-cap assets.
Support and Resistance Levels Shape Near-Term Outlook
Ondo’s price action reflects a balance between strong support and clear resistance. The crucial support band is located between $0.85 and $0.75. This zone has acted as a demand base where buyers step in, reinforcing the bullish market stance. As long as the token holds above this level, the bullish outlook remains intact.
On the higher side, immediate resistance lies in the $1.18 to $1.20 range. A successful breakout here would unlock a near-term target at $1.25, with the possibility of extending to $1.40 if momentum strengthens. For now, Ondo trades within a consolidation pattern, moving between established support and resistance levels.
Also Read: ONDO Price Action Signals Upside Potential, Eyes $1.25 Level
Ondo Indicators Point to Building Momentum
Technical signals are gradually tilting in favor of buyers. The Relative Strength Index (RSI) stands at 53.03, rising from a previous reading of 48.19. This upward move suggests growing buying interest. Similarly, the MACD has turned bullish, with its histogram shifting into positive territory, further reinforcing upward momentum.
These indicators hint at a market preparing for another resistance test. An upside push past $1.20 would solidify a breakout, but rejection at this price could initiate a pullback toward $1.00 or the lower support in the region of $0.85. Traders are watching these markers closely for affirmation.
Derivatives Data Signals Stronger Participation
Market derivatives also reflect growing confidence. Open interest rose 4.75% to $472.43 million. This is a sign that more traders are positioning for action, usually associated with increased confidence or a speculative push.
The OI-weighted funding rate of 0.0075% indicates that longs are paying shorts positions, registering soft bullish pressure. While humble, the figure is consistent with the overall assessment of increased market participation. Nonetheless, increased open interest in the absence of price action may increase long liquidation risks.
Overall, Ondo remains in a constructive setup. The coming sessions will be decisive, with a breakout above $1.20 marking the path toward $1.25, while losing support could test buyers’ resilience near $0.85.
Also Read: Ondo Price Nears $1.15 Breakout: Is a 70% Rally Imminent?
