Cryptocurrency ONDO (ONDO) shows remarkable stability while holding its positions amid the overall market volatility. Analysis shows the formation of a symmetrical triangle on its price chart.
ONDO in the Cryptocurrency Market
Amid fluctuations in the cryptocurrency market, ONDO is trading in a tight range and remains above a strong support level. Analyst Crypto Winkle suggests these circumstances may indicate that the asset is accumulating strength before a potential breakout.
Technical Analysis of ONDO Chart
The daily ONDO price chart reveals a symmetrical triangle, consisting of a rising and a descending trendline, both narrowing towards the apex. The current price of ONDO is $0.6939, with short-term resistance forming around $0.80-$0.85. Analysts are monitoring for a breakout above the descending resistance.
Prospects and Development of ONDO Project
ONDO is actively developing its ecosystem, including the new Ondo Chain designed for real-world asset tokenization. The total value locked exceeds $800 million, strengthening its position in the market. Market participants are closely watching RWA-related developments, which could lead to potential price increases in the future.
ONDO demonstrates significant growth potential, its chart forms critical patterns, and considering its strong fundamentals, the project may expect positive developments in the coming years.
