ONDO has caught attention following a significant price movement confirmed by recent chart activity. Analysts note ONDO's price broke through a key resistance level and is undergoing a retest.
Resistance Break and Retest
The chart shared on social media shows a breakout above a major resistance zone between $0.91 and $0.93, previously acting as a cap. After the breakout, ONDO's price retested this zone, interpreted as a resistance-to-support flip. The price continued its upward trend past the $1.00 mark.
RWA Trend and Institutional Support
Interest in Real World Assets (RWAs) is growing across the crypto industry, with ONDO recognized as a leader. ONDO's link to financial giant BlackRock has heightened investor focus.
Volume and Momentum Indicators
Although volume data wasn't included, the sharp rally that followed the resistance break implies strong buying pressure. The upward movement with minimal retracement indicates short-term bullish momentum.
Current trends suggest ONDO continues to align with the RWA strategy, gaining attention through a combination of technical and fundamental factors.
