ONDO Price Primed for 60% Explosion—If It Smashes Through $1.20 Resistance

Crypto's latest dark horse is chomping at the bit. ONDO—the token that's been quietly outrunning half the top 50—now stares down a make-or-break moment at the $1.20 level.

The breakout blueprint: Technicals suggest a clean break above this stubborn resistance could trigger a 60% surge. Not bad for an asset that was trading sideways just three months ago.

Why traders are watching: The order book shows massive liquidity stacking up at $1.19—classic 'stop hunt' territory. Meanwhile, perpetual swap funding rates remain neutral, avoiding the overheated conditions that killed rallies in Q2.

Of course, this being crypto, the move could just as easily faceplant. Some whales are reportedly rotating into 'safer' meme coins (because nothing says stability like dog-themed gambling tokens).

One thing's certain: If ONDO conquers $1.20, the FOMO will be audible from Wall Street to Hong Kong—and might just drown out the usual chorus of 'institutional adoption' buzzwords for a week or two.

ONDO technical analysis

Ondo Finance (ONDO) price is steadily recovering from the recent dip to $0.95, following a failed breakout attempt from a double bottom pattern on July 22. On that day, the price briefly surged above the neckline near $1.13, peaking at $1.17, but lost momentum as the RSI got overheated, triggering a pullback.

The decline found support at the 20-day EMA, which has served as a reliable dynamic support throughout July. Importantly, Ondo Price remains firmly above both the 50-day SMA and the 20-day EMA, which have maintained a bullish crossover since mid-July.

With the RSI now reset at 61 but still bullish, ONDO price appears poised for another breakout attempt. A decisive daily close above the $1.20 level would confirm a breakout from the double bottom pattern, potentially setting the stage for a move toward the $1.60–$1.70 range, based on the measured move target of the formation.

What’s driving ONDO price?

Recent developments around ONDO Finance have significantly boosted ONDO market sentiment.

On July 23, ETF issuer 21Shares filed a preliminary prospectus with the U.S. Securities and Exchange Commission to launch the 21Shares Ondo Trust, a fund designed to directly hold ONDO tokens. While technically structured as a trust, the filing is widely seen as a step toward a spot ONDO ETF.

Beyond the ETF news, activity on the Ondo network has accelerated. The number of new daily ONDO addresses has quadrupled over the past week, according to crypto analyst Ali Martinez.

The number of new daily $ONDO addresses has quadrupled over the past week. This is a clear sign of accelerating network growth and rising demand! pic.twitter.com/KBuX7jTU9i

Momentum is also building around Ondo’s upcoming Global Markets platform launch. As part of this initiative, the Ondo Global Markets Alliance has rapidly grown, now boasting participation from over 25 companies, with Zodia Custody and Bitget joining as the latest members in July.

Additionally, Ondo Finance recently bolstered its infrastructure with two key acquisitions: blockchain developer Strangelove and a U.S. SEC-licensed broker-dealer Oasis Pro.