ONDO accumulation complete: Where will the price explode next?

ONDO breaks out of accumulation

Currently, the price of ONDO is trading around $0.316, posting an impressive gain of over 12% in the last 24 hours. This bullish momentum has not gone unnoticed: the spot trading volume has literally exploded, surging by 193% to reach nearly $226.9 million. This massive injection of liquidity confirms the sudden investor interest in the asset.

In terms of technical analysis, this move has allowed the token to achieve a decisive breakout above the psychological resistance at $0.30. Derivatives market data further supports this bullish trend. Indeed, Open Interest (OI) is expanding sharply, accompanied by positive funding rates, reflecting a growing conviction among traders holding long positions.

Can ONDO trigger a new rally after this breakout?

Breaking the $0.30 resistance marks a major technical turning point for ONDO. If buyers manage to flip this former ceiling into a solid new support, the path seems clear for a bullish continuation. The current chart setup suggests that consolidating above this level could serve as a springboard for the next move.

On the 2-week chart, ONDO is targeting the $0.95 zone, which corresponds to both its cleared bearish trendline and a massive liquidity zone from its bearish order block.

In this bullish scenario, the next natural short-term target lies in the $0.35 to $0.47 zone (median band of the FBB and daily order block). Momentum indicators, supported by the influx of fresh capital and rising leverage, show that buying pressure still has room to run before exhaustion. However, sustaining current volumes will be essential to validate this upward trajectory.

Is the key $0.30 support in danger?

Despite the prevailing euphoria, the crypto market remains unpredictable and a correction can never be ruled out. If the current momentum were to fade, the $0.30 level will be the first real test for the bulls. Failure to defend this zone could trigger cascading liquidations among overleveraged traders.

In the event of a bearish scenario, a retracement below $0.30 would expose the price to a rapid drop toward the next support located around its daily POC at $0.275, or even $0.25 in case of stronger panic. Investors will need to closely monitor the RSI for any overbought signals that could precede such a trend reversal.

How high can the ONDO price go?

The market is at a critical inflection point. The current dynamics are undeniably favoring buyers, but the sustainability of this rally will depend on ONDO‘s ability to attract new capital beyond mere short-term speculation. The $0.35 to $0.47 zone represents a decisive test that could define the trend for the coming weeks.

If demand continues to grow at this pace, this move could very well be the early stages of a true bull run for the asset. Conversely, a sudden drop in volume could turn this breakout into a bull trap. The coming days will therefore be crucial in confirming the market’s ultimate direction.

From a fundamental perspective, ONDO remains the leader in RWAs, a sector that has dominated the market for over a year. Its stronghold on equity tokenization could well bring institutions back into the game. The bulls have now been unleashed, and it remains to be seen whether the bears still have a say.

Sources:

• AMBCrypto
• Whale Factor
• Tradingview

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