ONDO surges 33% in a day: Should you buy now or wait?

Can ONDO smash through the $0.41 supply zone?

Currently trading within a $0.41 – $0.45 range (up more than 30% over 24 hours), ONDO is clearly standing out from the broader crypto market trend. This surge follows resounding news regarding Ondo Finance, which recently completed a near instant cross border settlement test in collaboration with giants like JPMorgan, Mastercard, and Ripple. This fundamental catalyst has reignited investor interest, propelling the altcoin to highs not seen in nearly three months.

Technical analysis reveals that traders are at a decisive crossroads. On one hand, the bullish momentum is undeniable since the breakout of the local resistance at $0.28. On the other hand, the long term structure calls for caution. The $0.413 level aligns with the 78.6% Fibonacci retracement, a major resistance zone that could trigger a brutal rejection. Furthermore, this area extending up to $0.47 corresponds to a daily order block.

Buying pressure and momentum are powerful. However, this $0.47 resistance is the final hurdle before a fresh push toward the next resistance levels at $0.68 and $0.78.

Indeed, ONDO has moved into the upper band of its daily FBB. The squeezing of this FBB indicates that the move has every chance of extending toward the top of the Fibonacci level. The question is how long it will take ONDO to break through its daily order block at $0.47. It is worth noting the appearance of a bullish daily order block at the beginning of May. This rally is therefore well supported by massive smart money accumulation.

However, the liquidation map over the past three months does not show significant liquidity clusters above the current price. This means that short position liquidations will no longer be enough to artificially fuel this rally. Despite this, shorts have started accumulating at $0.49 since this morning. There is nearly $300 million waiting to be liquidated to the upside.

How high can the ONDO price go in the event of a breakout?

If the bulls manage to break and consolidate above the previous high at $0.47, the scenario of a simple relief bounce will be invalidated in favor of a genuine rally toward $0.78. In this case, ONDO could quickly seek to build new momentum, driven by the massive hype surrounding the tokenization of real world assets (RWA).

Conversely, a bearish scenario remains entirely plausible if the price faces a sharp rejection at the $0.41 zone. Such a reaction would confirm the underlying bearish trend on the daily timeframe. The price could then initiate a severe correction, with initial support expected around $0.32, or even a pullback to the psychological threshold of $0.30.

The coming days will be crucial in determining whether this surge is a trap or a genuine opportunity. Traders will need to closely monitor trading volumes and the price reaction at $0.47. Is this the perfect time to accumulate ONDO before another spectacular surge?

For now, the momentum is clearly bullish and every dip is a buying opportunity. It is obviously necessary to keep an eye on Bitcoin to see if it holds the $79,500 level. But the volumes recorded on ONDO tell us that the rally is not over yet.

Sources:

• AMBCrypto
• TradingView
• Coinglass

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