ONDO Nears Critical Resistance – $0.92 Breakout Imminent?

ONDO bulls are charging toward a make-or-break level as the token flirts with a decisive resistance zone. A clean breakout could send prices soaring to $0.92—leaving slow-moving traders eating dust.

The Setup:

After weeks of consolidation, ONDO's chart is printing a textbook bullish pattern. Volume's ticking up, and liquidity pools are primed for a potential squeeze.

The Stakes:

Fail here, and we're looking at yet another 'almost' story in crypto's graveyard of fakeouts. But clear $0.92? Suddenly everyone's a 'long-term holder'—until the next 10% dip, of course.

Watch the order books. This one's got 'FOMO pump' written all over it—just in time for the usual 'buy the rumor, sell the news' circus.

• ONDO tests key resistance at $0.80, aligned with the 200-day EMA; a break could target $0.92.
• A bullish reversal pattern forms amid rising interest, despite a slight recent dip of -1.77%.
• A positive correlation with M2 Global Liquidity adds macro support to the bullish outlook.

ONDO, the native token of Ondo Finance, is showing bullish signals of a potential breakout after weeks of market-based declines. Though the broader crypto market steadies itself, the token is beginning to command increased focus from investors and traders once again.

With the token trending on a robust Fibonacci retracement obstacle and assuming a bullish reversal form, the necessary groundwork may have been laid for a rapid pop to the positive.

Currently, ONDO is trading at $0.7795, with a 24-hour volume of $180.54 million, and a market cap of $1.09 billion. Even though the coin decreased slightly by 1.86% in the last 24 hours, indicators have identified a possible bullish reversal in the NEAR term.

Analysts are watching this area, particularly around the $0.80 mark, valued at the 200-day EMA, a significant technical barrier.

Crypto analyst AltWolf emphasized this level as pivotal, stating that if ONDO breaks the $0.80 resistance, its initial bullish target lies at $0.92, a full test of the 200EMA on the daily chart. In a bearish scenario, if the coin is rejected at this point, though, its price could retrace as far as a pivotal support at $0.55, an area previously a solid demand zone.

Adding to bullishness, Bull Bear Spot also noted the asset’s positive correlation with M2 Global Liquidity (M2 Money Supply), a key macroeconomic indicator. It has a nice bullish chart setup, meaning ONDO’s price can “pump at any time” if everything stays as is. This lends a macro-based LAYER of conviction to bullish players expecting a continued move higher.

ONDO Gains Momentum as RWA Narrative Grows

The overall mood about Ondo has been progressively better, especially as the token continues on its course to steadily become a part of the real-world asset (RWA) narrative, a development that has been a surging trend within the current market cycle.

A mix of positive technical indicators, rising liquidity, and improving macro sentiment could all drive ONDO to a potential breakout in future sessions. Whilst the coin tests out this key resistance zone, all eyes remain on observing if it can re-establish and hold control of the $0.80 mark.

A successful breakout can create a doorway of new high prices, whilst rejection can reiterate that prudence is called for on a short-term positioning basis. Either outcome, the token remains one of the most monitored tokens this week and has high potential amongst both swing and longer-term holders.