ONDO Price Action Mirrors Past Bottoms – Is a Trend Reversal Coming?

ONDO is looking interesting right now. It just bounced off support, which is catching people's attention. The way the price is moving suggests things might be changing

ONDO price is showing signs of a potential trend reversal as it bounces off support. This move is generating interest among traders, especially considering the technical indicators suggest a change in market sentiment.

As the price fell to around $0.92-$0.95, a level that had previously offered support, it sparked interest in ONDO. The chart shows the price bouncing back from this support again, which could indicate a short-term recovery.

The RSI is showing similar readings to previous bottom points, suggesting that the price might be oversold. Additionally, the RSI moving average looks set to cross over soon, which could signal a change in momentum.

This analysis aligns with that of crypto analyst Seth, who also pointed out the technical support level and the RSI position.

“Got a good risk-to-reward on this one. Price bounced at what I would call a very technical level (support at what was previously resistance, fib, round notional). Also, RSI is showing good oversold readings and the MAs are lining up nicely.

This is also heating up as BI has a huge presence in RWA tokenization and they're rolling out a new product later this year. Plus, there's some chatter about a new initiative with BlackRock. Not bad for a token that started the year at $0.5.

No financial advice. Do your own research. Invest at your own risk. I'm just an analyst sharing my thoughts and observations.”

Next Resistance Levels For The Price

Market participants are keeping an eye on the next resistance for the price, which lies between $1.30 and $1.40. This is an area where the price had difficulty maintaining its upward momentum in recent months.

If the price manages to break above this range, it could move toward $1.60-$1.70, where the last major highs were seen. However, if the price falls below $0.92 support, it could decline further to the $0.70-$0.75 range.

Traders will be watching to see if current buying pressure can manage to sustain this rebound and push the price higher.