ONDO Coin Price Prediction: Will Trump Jr's Backing Help the Token Reclaim Its January Highs?

Exciting news for ONDO investors as the token's price conquered the $1.37 weekly close mark to reach $1.45 and hint at a decisive upward price action

ONDO price analysis reveals bullish momentum as the token rallied past the key resistance level of $1.37 and surged to reach $1.45 after a two-event price action that saw Trump Dumps purchase $470,000 worth of ONDO tokens following the launch of ‘Ondo Chain.’

A layer 1 blockchain network for tokenizing real-world assets (RWAs) had several Wall Street brands in attendance.

The launch event of Ondo Chain also featured the president’s son, Donald Trump Junior, who was announced as the surprise closing speaker and closed out the event. It is worth noting that Don Jr is actively involved in the crypto space and even announced the launch of World Liberty Finance late last year, which would later go on to receive the backing of the president.

However, it wasn’t just his appearance at the event that sparked optimism toward the token; it was the fact that the Trump-backed crypto-investing brand purchased $470,000 worth of ONDO tokens immediately after the launch.

ONDO Stands Ready for a Week of Gains

Trump’s backing has since helped the token rally put enough distance from the local bottom of $1.30 and break above the weekly close of $1.37. It reinforces ONDO bulls that had already sent out multiple hints that they were ready to push the token above the Trump tariff rumble.

From a technical analysis perspective, ONDO has a Relative Strength Index (RSI) of 52, which means that though it currently hovers around the neutral zone, it does have a bullish intent.

The case for a growing bullish momentum is given weight by the MACD indicator that has not only been printing green histograms based on ONDO’s 1-day price action. The MACD and signal lines have also converged with the MACD line crossing from below, which typically signifies a dying downward momentum.

With fundamentals and technical indicators hinting at a bullish momentum, ONDO price forecasters are convinced the token will break out and set sight on the $1.6 resistance level next week. A rise above this mark would signal a run towards the all-time high of $2.14 SET IN December 2024.