ONDO (ONDO) is grappling with intensified sell-side pressure, trading at $0.9211, down 3.46% over the past 24 hours. The token has slipped below key short-term moving averages amid a broader market cooldown, with Bitcoin hovering near $107,000 and several altcoins following suit in a cautious, risk-off environment.
Technical Breakdown: Bearish Signals Stack Up
ONDO’s 4-hour chart paints a concerning picture for bullish traders. The price currently trades beneath the 9-period Exponential Moving Average (EMA) at $0.9434 and the Triple Exponential Moving Average (TEMA) at $0.9224, signaling short-term bearish momentum. These moving average crossovers are often early warnings of continued downward pressure.
Adding to the bearish narrative, Bollinger Bands are tightening, with the price hovering near the lower band at $0.9024, implying a decrease in volatility but also a heightened risk of a downward breakout. Resistance levels lie at the middle band ($0.9733) and the upper band ($1.0443), should bulls manage a recovery.
The Relative Strength Index (RSI) has dipped to 37.61, firmly in bearish territory and well below the neutral 50 mark, indicating that sellers are in control. Similarly, the Moving Average Convergence Divergence (MACD) shows increasing downside momentum, with the MACD line at -0.0069 below the signal line at -0.0027 and a negative histogram.
Key Levels to Watch: $0.90 or $0.97?
ONDO is now approaching a critical psychological support at $0.90. A confirmed break below this level could trigger a slide toward $0.88, a zone that previously served as a bounce point. Conversely, if bulls can reclaim the EMA at $0.9434, the next upside targets include $0.97 and $1.04, aligning with the mid-to-upper Bollinger Bands.
Also Read: ONDO Price Analysis: Is the Real-World Asset Boom Enough to Fuel a 194% Rally?
Market Context: Risk-Off Mood
The current correction isn’t isolated to ONDO. With Bitcoin slipping from recent highs and altcoins like Ethereum and Solana also facing retracements, the market is clearly entering a consolidation phase. ONDO’s fate now hinges on whether broader sentiment can stabilize—or if technical weakness will extend the decline.
Bottom Line: ONDO stands at a crossroads. A decisive move above or below current levels could define its trajectory for the coming weeks. Traders should stay alert for confirmation signals and prepare for potential volatility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m the cryptocurrency guy who loves breaking down blockchain complexity into bite-sized nuggets anyone can digest. After spending 5+ years analyzing this space, I’ve got a knack for disentangling crypto conundrums and financial markets.
