The ONDO token price has shown growth after hitting a yearly low, approaching an important resistance level. This increase is supported by a series of recent news about the company’s developments.
Recent Price Fluctuations of ONDO
The current price of ONDO is $0.078, marking a 13% increase over the past week. It has bounced back from a yearly low of $0.062 recorded on June 22, after briefly dipping below the lower boundary of a monthly descending channel on the 4-hour chart. Strong buying pressure at that level quickly pulled the price back within the channel’s range.
Technical Indicators and Key Levels
In recent trading, the ONDO price has risen above both the 20 EMA and the 100 SMA, forming a bullish crossover between the two averages. The price is now approaching the upper boundary of the descending channel, having established a slightly higher high compared to the peak of the initial rally from the yearly low.
Momentum indicators are also leaning bullish. The Relative Strength Index has climbed to around 59, signaling growing strength but still leaving room before entering overbought territory. The MACD has formed a bullish crossover, with the MACD line moving above the signal line and shifting into positive territory.
Fundamental Achievements of Ondo Finance
The recent rebound in the ONDO price comes in light of a series of milestones on the fundamental front. Notably, Ondo Finance has recently brought its tokenized U.S. Treasuries to the XRP Ledger. Additionally, the company completed a cross-chain settlement leveraging JPMorgan’s Kinexys and Chainlink and introduced instant conversion functionality between its OUSG fund and PayPal’s PYUSD stablecoin.
Furthermore, the company recently announced the formation of the Global Markets Alliance, a coalition aimed at establishing technical and compliance standards for tokenized public securities. The alliance includes key players such as the Solana Foundation and Fireblocks, preparing for the launch of the Ondo Global Markets platform designed to provide access to U.S. securities for non-U.S. traders.
The recent shifts in the ONDO price and the company’s fundamental achievements highlight its strategic direction and development in the tokenization space. Further updates are to be anticipated.
