- ONDO Finance hits a new all-time high of $1.33, driven by Ethereum ETF hype.
- With recent stability around $1.27, ONDO targets $2 if it breaks through the $1.32 resistance.
There is an unknown entrant into the crypto market rally.
Taking the markets and the community by surprise, Pantera Capital’s Ondo Finance (ONDO) broken an all-time high of $1.33 as Ethereum (ETH) ETF hype rages, making it one of the best performing cryptos.
ONDO: These are some key levels
The ONDO/USDT pair has shown some interesting movements over the past five days.
Starting from a base of around $1.17, the token has seen a surge in trading activity, pushing its price to a high of $1.33 around three hours ago.
This upward move was followed by typical volatility, with prices retracting slightly and then attempting to stabilize near the $1.30 mark before a subsequent pullback to the $1.27 level.
Source: TradingView
ONDO’s trading volume has remained relatively stable, with a notable increase coinciding with the price surge, meaning there has been an increase in buyer interest during this period.
While the price is hovering around $1.27 at press time, the market appears to be consolidating after the recent rally. Traders could assess the sustainability of recent gains before committing to new positions.
The $1.27 level could also serve as new support if ONDO maintains its position, or it could see further declines if selling pressure increases.
If ONDO rebounds from its current level and breaks through the resistance at $1.32, it could pave the way for an uptrend towards $1.5 and even $2.
Realistic or not, here is the market cap of ONDO in terms of ETH
The potential for ONDO to reach a valuation of $2 is quite strong, but it is important to recognize that various factors beyond technical analysis influence cryptocurrency prices.
Although we are on the precipice of what could be the biggest cryptocurrency bull run ever, the market remains incredibly volatile. Proceed with caution. Always DYOR!
News Source : ambcrypto.com
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