The cryptocurrency market is showing signs of recovery. Bitcoin and Ethereum have surged by 6% and 9% over the past seven days, providing relief to altcoins after corrections following late 2024 rallies. Additionally, the Real World Asset-focused token, Ondo, has seen an 11% increase, indicating a potential breakout.
Current State of the Crypto Market
The past seven days have been favorable for Bitcoin and Ethereum, which both saw significant growth of 6% and 9%, respectively. This positive movement supported altcoins that suffered from sharp corrections following late 2024 rallies. Strengthening market sentiment also contributed to the growth of the Ondo token.
ONDO Mirrors Past Bullish Breakout
After peaking at $2.14 in December 2024, ONDO began a steady decline, hitting a low of $0.73 in early March 2025. Recently, however, the token has shown early signs of recovery, rising to $0.92. The chart resembles a past bullish breakout pattern that led to a rally of over 234%. If the current breakout confirms, ONDO could see significant upward movement.
Final Thoughts
ONDO is currently at a critical juncture. A move above the descending channel and 25-day MA could confirm a trend reversal, paving the way for recovery. The MACD indicator is also showing signs of a potential bullish crossover. Increasing buying pressure could allow ONDO to soon target $1.64 and $2.14, showcasing significant upside potential from current levels.
The cryptocurrency market is developing positively, and the Ondo token shows signs of a potential breakout. If current trends continue, Ondo could reach new heights, reflecting the positive shifts in the overall cryptocurrency market.
