ONDO Token Surges 1.68% Amid Bullish Technical Setup

ONDO, a prominent token in the decentralized finance (DeFi) space, is currently experiencing a rebound near key support levels, indicating a potential breakout from its ascending channel. Despite a decline in trading volume, ONDO’s market capitalization has surged to $2.36 billion, reflecting strong investor confidence. The token boasts over 143,000 holders and a total value locked (TVL) of $1.39 billion, underscoring sustained DeFi adoption and token utility.

Market expert Ali has identified a critical technical setup that could drive significant price action for ONDO. The token has been interacting consistently with the trend lines of an ascending channel since early 2024, recently bouncing near the lower boundary around the $0.60–$0.65 range. This rebound, following weeks of consolidation, suggests a potential reversal in momentum. Ali highlights that if support holds and bullish pressure intensifies, ONDO could move toward the $0.29 level.

The technical setup is particularly compelling given the broader downward correction from ONDO’s previous highs above $2.00 earlier this year. Despite bearish sentiment in recent months, the current positioning near the lower end of the channel could act as a springboard for recovery. Ali points to historical price reactions within this channel to support the idea of an upward move. However, he warns that a lack of support around $0.70 would negate the bullish argument, potentially triggering another test lower down to the levels around $0.60—and perhaps even the level of $0.52. Traders and investors should closely monitor this trend as ONDO approaches a technical inflection point.

On-chain metrics further reinforce the bullish sentiment surrounding ONDO. The token has shown modest upward momentum, trading at $0.7482 as of the latest 24-hour cycle—a 1.68% increase on the day. With a significant 23.95% decline in trading volume to a $72.43 million level, the market cap of the token has increased to $2.36 billion, indicating renewed investor confidence. The circulating supply is 3.15 billion ONDO, with a fully diluted value (FDV) of $7.47 billion and an impressive TVL of $1.39 billion. Having a market cap to TVL ratio of 1.69 and a holder count of more than 143,000, ONDO continues to demonstrate steady user activity and an inflow of capital, positioning it as a key player in the DeFi sector.

Technical analysis reveals a bullish setup for ONDO. The 12-hour chart displays a textbook triple tap accumulation pattern, indicating a high-reward, low-risk trade opportunity. The price has formed a clean base of support near the $0.68 to $0.71 range, with the potential for a significant move if this level holds. The technical target for this setup is around $1.15, offering a risk-reward ratio of approximately 14:1. Additionally, a partial take of 25 percent at the $0.90 to $0.95 level would provide a realized gain of +0.875 percent on a 1 percent risk trade, minimizing downside exposure.

The 3-day chart further supports this bullish outlook. The ongoing pullback is within the context of a wider range established by the 2024 highs, and a successful break above the $1.15 level could confirm a Level 2 Break of Structure (BOS) pattern. This would pave the way for a continuation to new record highs, potentially leading to a +200% expansion in ONDO's price. The strong fundamentals backing ONDO, including robust total value locked and revenue metrics, further support the token's upward trajectory. The combination of technical strength and solid fundamentals makes ONDO an attractive option for both short-term traders and long-term investors in the real-world asset (RWA) sector. As the token continues to gain traction and social media engagement, it is well-positioned to capitalize on the growing interest in real-world asset-backed cryptocurrencies.