Ondo Coin, which had previously shown positive dynamics, faces a sharp decline. Investors are questioning the reasons behind such fluctuations.
Reasons for the Drop in Ondo Coin
Currently, the price of Ondo Coin has dropped by 2.21%, currently around $0.8719. The 24-hour trading volume has decreased by more than 23%, indicating diminishing interest in the asset. The main reasons for the drop include: 1. Overall decline in the cryptocurrency market by 0.66%. 2. Shift in interest towards the WLFI project, linked to the Trump family, which recently purchased SEI tokens worth $775,000.
Technical Analysis and RSI
The current analysis indicates that Ondo Coin is in a "wait-and-see" zone without clear signals for movement. * MACD: Momentum is slowly fading. * RSI: Around 50.33, indicating a neutral zone - neither oversold nor overbought. This fact underscores the lack of sufficient volume and interest for strong movement.
Support and Resistance: Key Levels
Trading in Ondo Coin is focused on key levels: * Support: $0.80 - if this breaks, the price may fall sharply. * Resistance: $0.95 - until the price crosses this level with strong volume, do not expect a strong rally.
Ondo Coin, despite its strong concept, faces challenges related to the overall market condition and shifting investor interests. It is crucial to monitor the key support and resistance levels.
