- ONDO has broken the most important resistance levels, the signaling potential for a price increase of 66%.
- Whale accumulation and rising institutional interest rates point to continued Bullish Momentum.
Ondo [ONDO] has recently broken his falling channel and has an impressive upward movement that has caught the attention of traders, so that the growing bullish sentiment is fueled.
At the time of the press, ONDO traded at $ 1.01, which reflects an increase of 15.63% in the last 24 hours.
The most important question is whether this momentum will continue, or whether a withdrawal looms as the price approaches crucial resistance levels. Market sentiment will play a crucial role in determining the next step of token.
Ready for launch?
The recent outbreak of the falling channel shows that ONDO could enter a bullish phase. The graph revealed a reverse head and shoulder pattern at the time of the press, which suggests a potential price increase.
The neckline for this pattern was near $ 1.60, a critical resistance level. If ONDO breaks this resistance, this can rise by a maximum of 66%.
Support remained at $ 0.90, who would like to defend buyers. If the price above this level maintains, the path to $ 1.60 becomes clearer.
Source: TradingView
What is behind the increase in market activity?
Market activity also supports the bullish prospects for ONDO. The large holder Netflow has risen by 6473.97% last week, indicating significant accumulation.
This activity suggests that institutional investors position themselves for the next growth phase.
In addition, active addresses have risen by 47.15%, which is further indicated that the market interest rate is growing. The number of new addresses also shows an inflow of fresh capital on the market.
These statistics on the chains indicate the rising trust of investors and a robust demand for ONDO, which strengthens its bullish potential.
Source: Intotheblock
Institutional intake: Are large investors the Rally of Stroom?
Transaction data shows that ONDO is increasingly attracting larger investors. Transactions in the range of $ 10k to $ 100k have risen by 140.14%.
This increase indicates that institutional players enter the market and position themselves for price gains.
Moreover, these larger transactions contribute to a higher overall market liquidity. While institutional interest rates continue to rise, ONDO could experience a long -term bullish momentum.
That is why market participation will probably remain strong, which means that it is actively pushed higher as investors want to benefit from potential growth.
Source: Intotheblock
What does the ONDO -Derivatenmarkt tell us?
The derivaten market confirms the growing bullish sentiment around ONDO. The volume has risen by 114.45% to $ 1.38 billion, and the open interest rate has risen by 36.16%, which now reaches $ 408.67 million.
These changes indicate that traders expect further price movement.
The rise in the long positions shows that market participants bet on continuous price rating. Moreover, these derivative statistics suggest that the market sentiment remains positive.
Source: Coinglass
Can Ondo support be rally?
The combination of technical patterns, market activity and derivative data strongly suggest that ONDO is positioned for further profit. The resistance of $ 1.60 is an important level to view.
If ONDO breaks this level, the next growth phase can be considerable. However, it is crucial to check whether large holders will continue to accumulate and whether the market sentiment remains strong.
As long as the trust of investors holds and the technical prospects remain favorable, ONDO can retain his bullish momentum very well and go to higher levels.
