ONDO Nears Critical $1.15 Breakout: Analysts Eye 70% Upside Potential

Ondo (ONDO) is currently trading at $1.04, marking a 2.13% increase over the past 24 hours and a notable 15.43% weekly gain. The cryptocurrency has seen trading volume surge by 56.87% to $1.06 billion, while open interest climbed 1.77% to $486.05 million - strong indicators of growing market interest. Technical analyst Ali Martinez suggests a breakout above the $1.15 resistance level could potentially trigger a 70% price rally.

Technical indicators reinforce the bullish case: The RSI sits at 67.70 (approaching overbought territory), while a MACD crossover confirms upward momentum. Derivatives markets show a positive funding rate of 0.0158%, reflecting dominant long positions among traders.

While daily spot volume dipped slightly by 2.17% to $3.27 billion, the robust derivatives activity points to increasing trader confidence. ONDO's performance aligns with broader crypto market optimism, though its next major move depends on successfully overcoming the crucial $1.15 resistance level.