Ondo Finance (ONDO) has broken out of a long consolidation phase and is now stabilizing above a new support zone after a strong upward move.
Technical indicators confirm a bullish structure with the ONDO price holding above key moving averages. However, derivatives data suggest stronger positioning alongside cautious trading activity. According to CoinMarketCap, ONDO is trading at $0.4079 with a 24-hour gain of 5.2%.
Source: CoinMarketCap
Rising Open Interest Reveals an Improving Outlook
According to Coinglass, the ONDO open interest increased by 2.64%, reaching $191.91 million indicating stronger positioning in the derivatives market. This rise suggests traders are adding or maintaining contracts reflecting growing engagement, potential trend continuation, and improved confidence in market direction.
Source: Coinglass
However, trading volume decreased by 26.25%, falling to $307.59 million, suggesting reduced market activity and participation. This decline may indicate lower volatility or cautious sentiment among traders, reflecting a temporary slowdown in trading momentum.
Also Read: ONDO Price Prediction: Bullish Breakout Signals Massive Rally Toward $1.08
ONDO Price Accumulation Points a Rally Toward $0.69
Furthermore, the crypto analyst Don revealed that the ONDO price seems to be making its local base after several weeks of building up.
There has been no breakout as the ONDO price movements have remained strong without any major breakdown, suggesting that sellers may have been contained. A round base formation is evident, and this is considered an early indicator of a bullish reversal in sentiment.
Source: Don’s X Post
The traders expect that the formation will develop into a cup and handle formation in case there is a smooth consolidation process with low volatility.
The momentum remains neutral without any indication of weakness. Traders are monitoring a possible upside target for the ONDO price at $0.69, but they are still waiting for confirmation.
Technical Indicators Point to Strong Upward Momentum
According to TradingView, the ONDO price has been showing great strength following its breakout from the extended consolidation.
The asset had traded sideways in the range of $0.23 to $0.27 for a number of months before making an explosive move upwards and crossing the 200-day EMA line in May. It had reached levels of nearly $0.48 before reversing. Now, a test of $0.40 has established it as the next support zone.
Source: TradingView
Technical signs suggest there is a change in momentum. The RSI shot above 80, which represents an overbought condition, and fell back to 67.20.
However, this comes along with exponential moving averages that start spreading out, indicating an upward direction. This happens when the ONDO price remains above the blue 200-day EMA level of $0.40349.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Ondo Finance Integrates Tokenized Stocks into Hyperliquid DeFi
