Ondo

Bitcoin

Resistance

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Coin

ONDO Coin Analysis: <a href="https://coingape.com/blog/ondo-price-hit-new-ath-heading-to-2/" rel="noopener noreferrer nofollow">Ondo Finance coin</a> has emerged as the top trending token in the cryptocurrency market, boasting a remarkable 75% increase over the past 11 days. Defying the current market uncertainty, the ONDO rode a high momentum rally and hit a new high of $1.3 today. Will this recovery be prolonged or will the sluggish price action in approval spark a fresh correction?
Also Read: <a href="https://coingape.com/bitcoin-price-hits-69000-will-it-break-75000-soon/" rel="noopener noreferrer nofollow">Bitcoin Price Hits $69,000; Will It Break $75,000 Soon?</a>
<h2 id="b-ondo-coin-shows-strong-momentum-as-trader-activity-increases-b">ONDO Coin Shows Strong Momentum as Trader Activity Increases</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/f/FGFHus39.png" alt="KUCOIN:ONDOUSDT Chart " width="1946" height="937">
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 ONDO Price Analysis| Tradingview
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Since late March 2024, the ONDO coin majorly traded sideways resonating within two horizontal levels of $1.042 and $0.69. The altcoin rebounded several times from this from Support/Resistance indicating market uncertain and narrow range formation.
<blockquote>
 However, the ONDO picked up momentum in mid-May amid the broader market recovery and witnessed even aggressive buying pressure along Ethereum as US Sec approved <a href="https://coingape.com/ethereum-etfs-may-propel-eth-to-record-highs-says-bitwise-cio/" rel="noopener noreferrer nofollow">spot ETH ETF</a>.
</blockquote>
On May 23rd, the <a href="https://coingape.com/ethereum-beta-ondo-price-touches-new-all-time-high-whats-cooking/" rel="noopener noreferrer nofollow">ONDO price</a> showed a decisive breakout from the range’s overhead resistance of $1.042, signaling the continuation of the prevailing uptrend. With an intraday gain of 4%, this altcoin currently trades at $1.28 and shows no sign of weakness yet.&nbsp;
According to a recent analysis by crypto analytics firm Santiment, the recent surge in interest and value in the ONDO coin is underscored by significant network growth and heightened trader activity.
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Ondo?src=hash&amp;ref_src=twsrc%5Etfw">#Ondo</a> (+75% in 11 days) is the top trending token in <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a>, and its presence has been hard to ignore.
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> Feb. 26th Non-Empty <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> Wallets: 5,110 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> May 26th Non-Empty <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> Wallets: 33,225 (+550% Rise)
 Track this chart on <a rel="noopener noreferrer nofollow" href="https://twitter.com/santimentfeed?ref_src=twsrc%5Etfw">@santimentfeed</a> any time: <a rel="noopener noreferrer nofollow" href="https://t.co/I9t7n5lY8k">https://t.co/I9t7n5lY8k</a> <a rel="noopener noreferrer nofollow" href="https://t.co/SXEFBicYMc">pic.twitter.com/SXEFBicYMc</a>
 — Santiment (@santimentfeed) <a rel="noopener noreferrer nofollow" href="https://twitter.com/santimentfeed/status/1794623466639065528?ref_src=twsrc%5Etfw">May 26, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Santiment’s data reveals a substantial rise in the number of non-empty ONDO wallets. On February 26th, 5,110 non-empty wallets were holding ONDO. By May 26th, this number had soared to 33,225, marking an impressive 550% increase in just three months. This rapid growth in wallet numbers highlights the growing interest and adoption of the ONDO token within the crypto community.
As the altcoin enters a price discovery mode, the traditional pivot level indicates potential overhead resistance at $1.31, followed by $1.55.
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2>
<ul>
 <li>Pivot Levels: The traditional pivot levels show the recently breached $1.042 can act as suitable flipped support in case the price retest</li>
 <li>Average Directional Index: An uptick in the daily ADX slope at 25% accentuates the current rally is far from exhaustion.</li>
</ul>
The post <a href="https://coingape.com/markets/ondo-coin-analysis-key-resistance-levels-to-watch-in-price-discovery-mode/" rel="noopener noreferrer nofollow">ONDO Coin Analysis: Key Resistance Levels to Watch in Price Discovery Mode</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

ONDO Coin Analysis: Key Resistance Levels to Watch in Price Discovery Mode

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