Key Takeaways
- TD Sequential buy signals on the 12-hour chart suggest ONDO may rebound from its recent downtrend.
- Analyst Niels points to an inverse head-and-shoulders pattern and strong fundamentals supporting a potential rally.
- Expert Kyren highlights its role in the growing RWA sector, with BlackRock’s involvement boosting long-term potential.
Popular crypto analyst Ali posted on X that ONDO may be set to recover after the TD Sequential indicator gives multiple buy signals on the 12-hour chart.
The cryptocurrency price has been in a downtrend from $0.8600 to about $0.7700. The technical setup shows that the bearish momentum may be abating.
The TD Sequential indicator, created by Thomas DeMark, is widely used to detect trend exhaustion and reversal opportunities. A green “9” candle indicates the termination of a buy setup, and a green “1” with an up arrow indicates the beginning of a countdown phase.
This pairing suggests that the cryptocurrency will recover in the near future with support at $0.7700. With momentum building, the cryptocurrency can go up to $0.80 or higher.
ONDO Forms Inverse Head-and-Shoulders Pattern
Analyst Niels supported the bullish argument with the note that the cryptocurrency has formed an inverse head-and-shoulders formation, a well-known technical formation widely used to indicate reversals in trends.
He also placed a strong emphasis on its Total Value Locked (TVL) which has reached over $1 billion, showing strong adoption in the decentralized finance (DeFi) market.
Even though he foresees a probable dip to $0.76, he believes that it might be followed up with a rally to the upside with buyers stepping in.
The network’s growing presence in the stablecoin market further strengthens its case to recover. With the increased adoption of stablecoins, its integration into decentralized finance platforms can offer a demand boost.
Technical indicators in isolation cannot guarantee a price surge, and overall market sentiment will be the determinant of whether it will be able to continue its momentum.
BlackRock’s Role in ONDO’s Future Growth
Beyond the near-term technical signals, ONDO’s long-term horizon is in sight. Analyst Kyren mentioned that BlackRock’s CEO, Larry Fink, predicted a $10 trillion market in Real World Assets (RWAs) within the coming years. As one of the market’s significant players, ONDO’s market share would be considerable.
Kyren charted several market capitalizations for ONDO based on market shares in the projected $10 trillion RWA market. With a 1% market share, ONDO would have a market capitalization of $100 billion and a price per ONDO of $31.75.
With a 10% stake, ONDO would theoretically be valued at $1 trillion and have its price at $317.46. While such estimations are speculative in themselves, they reflect the increased institutional interest in ONDO’s platform.
With BlackRock already in RWA tokenization and ONDO establishing itself as a significant market player, the prognosis looks good. Meanwhile, the $0.7700 support region is watched closely to see if the expected recovery materializes.
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