Foreign media commentators believe that ONDO has entered a period of adjustment after a rapid rebound, with increased short-term volatility. The article mentions that the sudden death of the project's founder and CEO, Nathan Allman, triggered an emotional sell-off in the market, coupled with profit-taking, putting pressure on the token price.
Nevertheless, the article concludes that ONDO's overall structure has not completely weakened. Buying interest continues to provide support around $0.40, indicating that some funds are still holding key levels. Given the continued popularity of the RWA sector, the market's focus now shifts to whether ONDO can regain its footing after a pullback and resume upward momentum.
The price found temporary support around $0.40.
The article states that ONDO recently attempted to recover the $0.45 to $0.46 resistance zone, after rebounding following support near $0.40. According to the article, this recovery indicates that buying pressure has not significantly subsided, and signs of a short-term correction are emerging.
The article also mentions that the Relative Strength Index (RSI) continues to rise, indicating that momentum has recovered somewhat during the rebound. Meanwhile, the 50-day moving average is approaching a crossover with the 200-day moving average; if this pattern forms, it could further strengthen market expectations for a subsequent rebound.
The $0.45 to $0.46 component watershed
However, the article argues that whether the aforementioned bullish signal holds true depends on whether ONDO can effectively break through the $0.45 to $0.46 range. This area has been a significant resistance level since the beginning of the year and is a key area for short-term directional judgment.
If the price breaks above this level, the article predicts that ONDO may next target around $0.52; if buying continues, the price could further test above $0.60.
Breakout failure or continuation of consolidation
Conversely, if ONDO fails to break through the resistance near $0.45, the price may continue to remain within a larger consolidation range. The article states that in this scenario, selling pressure could intensify again, retesting the key support level of $0.40.
Overall, this is a market commentary based on price structure and technical position. The core judgment is that although ONDO is in a short-term pullback phase, as long as key support levels are not breached, there is still room for price recovery.
