ONDO Struggles Below Key Resistance as Regulatory Concerns Weigh on Market
ONDO continues its downward trend, stuck below the critical 20-day EMA at $0.40 as traders weigh bearish technical signals against evolving U.S. cryptocurrency regulations. The token's failure to break through this resistance level reinforces the ongoing selling pressure.
Technical indicators present a challenging outlook, with the weekly RSI lingering NEAR oversold levels at 30. While such readings have historically preceded relief rallies, current price action indicates continued weakness. The $0.338-$0.335 support zone—aligned with the lower Bollinger Band—now acts as the final defense against a drop toward $0.30.
Any potential recovery faces layered resistance at $0.415 and $0.462, where sell orders are likely concentrated. Market analysts note that only a decisive close above the 200-day SMA near $0.525 could signal a trend reversal, with confirmation requiring a breakout beyond $0.738.
