Ondo Must Break Through This Critical Value to Initiate the Recovery Phase
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- A bullish TD Sequential signal is emerging, but resistance at $1.29 remains critical.
- Address and transaction activity are increasing, suggesting potential accumulation ahead of a price rally.
The Ondo [ONDO] token has seen a correction of nearly 50% from its December peak, currently trading at $1.18, reflecting a rise of 3.09%.
Despite this positive momentum, the Parabolic SAR is positioned above the price indicating ongoing bearish pressure. Additionally, ONDO has yet to reclaim the critical resistance level at $1.29 while support is forming lower at $1.18.
The bullish TD Sequential signal emerging on the 3-day chart suggests that selling pressure may be diminishing which could facilitate recovery if coupled with rising market activity.
Traders should closely observe how prices respond to descending trend lines and key resistance levels in the upcoming days.
Source: TradingView. p > div >
ONDO Address Stats: Are Investors Showing Interest? b > h2 > Address activity shows significant growth indicating increasing market participation. In the last week, zero balance addresses have surged by 42.25%, while active addresses rose by 39.39%. This uptick signals heightened investor interest likely spurred by ONDO’s steep price correction making it more attractive for accumulation. p >
This surge in address activity aligns with growing speculation about ONDO’s recovery potential; however, sustained increases are required to validate optimistic forecasts and bolster investor confidence moving forward. p >
ONDO Transaction Count: An increase in network activity. b > h2 >
Recently ONDO’s transaction counts have escalated from 1,686 to 2,991 showcasing considerable growth in network engagement historically tied with larger accumulation periods often preceding bullish trends.
Price escalation indicates investors are gearing up for possible upward trends; monitoring whether these activities persist will be vital moving ahead.
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