The ONDO token is drawing attention in the market, with its current price around $0.78. Despite some positive forecasts, technical analysis indicates mixed signals.
Current Price and Support
ONDO is trading at $0.7814, down 0.29% over the past day. This level is significant as it aligns with a horizontal support level that has held previously. However, technical indicators point to price weakness, as the token has also dropped below a rising trendline, which could create challenges for buyers.
Resistance and Price Forecast
If ONDO's price can hold and begin to rise, the first hurdle will be the $1.00 mark, representing a psychological barrier and a previous resistance zone. The next resistance levels are in the $1.30-$1.50 range, while a future test of the $2.00-$3.00 level could be in play. Conversely, if ONDO loses support, attention should turn to the $0.50-$0.55 range.
Social Sentiment and Its Impact
On the platform X (formerly Twitter), analyst CryptoED stated that ONDO has broken above resistance and is targeting $3. Despite optimistic forecasts, the charts do not currently support this idea, as the price remains below the broken trendline. Upcoming trading sessions may provide a clearer understanding of the direction ahead.
Overall, the analysis of the current market state for the ONDO token indicates uncertainty. Investors should watch price boundaries and signals closely before making decisions.
