Bittime - Ondo Finance (ONDO) pricejumped 13% in the past week to $0.9293 at the time of writing this article. Meanwhile, trading volume jumped 95%. Will ONDO prices continue to rise? Here is the latest ONDO price prediction!
This increase occurred at the same time as Bitcoin prices strengthened. Real World Assets (RWA) such as ONDO and Polymesh (POLYX) tokens also benefited from the capital flow.
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RWA converts established assets from traditional finance into a form of digital token (blockchain) and brings it into the world of DeFi (Decentralized Finance).
Several analysts identified a bullish pennant pattern on the trading chart of the ONDO/USDT pair in the daily timeframe. This technical formation usually signals the potential for significant price increases.
Also read: Ondo Finance Launches Ondo Global Market, Here's the Explanation
Apart from market optimism triggered by Bitcoin prices, large investor activity also influences the price of Ondo Finance. The accumulation of ONDO tokens by the top 50 holders, whales (big investors), and "smart money" (intelligent investors) drives the price up.
Detailed analysis by iCrypto.ai shows that the top 50 wallets holding ONDO tokens carried out aggressive accumulation when the price was in the $0.74-$0.77 range.
Data shows that buying momentum from these large investors reached 32.7 million ONDO tokens in the last 24 hours, or the equivalent of around $27.6 million.
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Meanwhile, for whales, when the price of Ondo fell on May 6 to $0.8155, the balance they held suddenly fell from 1.15 billion ONDO tokens to 1.1 billion ONDO tokens.
This represents a decline of approximately $415 million. However, purchasing power reappeared today with purchase volume of around 40 million ONDO tokens, or ~$35.9 million.
Also read: Ondo Finance (ONDO) Price Prediction, Will It Rise? Check out the analysis here
In the last two days, “smart money” has also added $160.2 thousand worth of ONDO tokens.
The large number of withdrawals from centralized exchanges (CEX) in the last 24 hours is a positive signal for ONDO.
Latest Ondo Finance (ONDO) Price Predictions
Summer: Over
Ondo Finance price is currently in a bullish trend. Currently, ONDO is trading at $0.926. Up 7.16% in the last 24 hours.
The price managed to break the resistance due to the descending trend line. The price has the potential to continue the uptrend, but this is still waiting for confirmation.
The Relative Strength Index (RSI) indicator has not shown confirmation of a higher price movement. A break above the average level of 50 on the RSI could push the price of Ondo Finance higher.
The Moving Average Convergence Divergence (MACD) indicator has moved above the signal line. This crossover is usually considered a buy signal, and is bullish for Ondo Finance price.
Ondo Finance price is currently in the Golden Fibonacci Zone (marked in orange). Traders who want to take a new long position on ONDO should wait for the price to exit this range. This means they have to wait for the candlestick to close above the 23.6% Fibonacci retracement level of $0.9538.
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In a strong bullish scenario, the Ondo Finance price rally could reach back to April's high of $1.0532.
On the other hand, if selling pressure increases, the price of Ondo Finance may fall. The 50% Fibonacci support level could turn into resistance. If the price falls further and breaks the 61.8% Fibonacci retracement level at $0.7929, then the bullish prediction will be refuted.
The next downside target is the 78.6% Fibonacci retracement level of $0.7221. This level was last touched on May 1.
How to Buy Ondo Finance (ONDO) on Bittime
You can buy and sell Ondo Finance (ONDO) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ondo Finance (ONDO) is available on Bittime with the ONDO/IDR market pair. To be able to buy ONDO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ondo Finance (ONDO) on Bittime.
Monitor the price chart movements of Ondo Finance (ONDO), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
ONDO Finance (ONDO) Price Breaks ATH? Whale Transaction Driven
Ondo (ONDO) Price Prediction According to Crypto Academy: Towards a New Era of DeFi?
Algorand (ALGO) and Ondo Finance (ONDO) Token Prices Soar, This is the Reason
ONDO and DeXe Prices Soar, Here's the Reason!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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