ONDO Tests Critical $1.15 Resistance Amid Growing Institutional ETF Speculation

Ondo (ONDO) is currently testing a crucial resistance level at $1.15, with prominent market analyst Ali Martinez highlighting significant breakout potential. The token has been consolidating within a horizontal channel since mid-July, indicating a distribution phase preceding the next major price movement.

Martinez's technical analysis suggests a bullish scenario where a decisive breach of the $1.15 barrier could propel ONDO toward the $2.40 target zone. Institutional demand continues to serve as a primary catalyst, with growing speculation around a potential ONDO ETF adding substantial momentum to the bullish narrative.

The weekly chart reveals a six-week consolidation pattern, though buyer accumulation appears to be strengthening. A confirmed weekly close above the $1.15 resistance level WOULD likely validate the beginning of a new upward trend cycle.