Prices of Ondo cryptocurrency are showing significant growth, approaching important resistance levels due to new developments in the ecosystem.
Price Increase of Ondo
Recently, Ondo's price reached $0.9675, marking a notable increase from its low of $0.8516 earlier this week. The token is nearing a key resistance level of $1, which may pave the way for further growth.
Launch of Ondo Markets
The primary catalyst for Ondo’s recent rally has been the launch of Ondo Markets, a new platform offering tokenized shares of popular American companies. Available assets include Nvidia, Palantir, Intel, and Amazon, with more assets expected to be added in the future. Tokenized stocks are gaining traction globally, competing with platforms like Robinhood and Kraken.
Technical Analysis and Prospects
Technical analysis indicates positive growth prospects. Ondo cryptocurrency has formed two bottoms on the daily chart, with resistance close to the level of $1.10. A breakout of this level could lead to a target price of $1,126, representing a 16% increase. Further growth beyond this point may reach $1.6392, which is 70% higher than current prices.
Overall, the positive technical analysis coupled with the expansion of the Ondo Markets functionality creates a basis for hope for further price growth of Ondo in the near future.
