ONDO token surged approximately 16% from its July 14 price, reaching near $0.39 before pulling back to around $0.36.
The rally was driven by two announcements from Ondo Finance, including tokenization of selected products linked to DTC entitlements and a partnership with Japan’s SBI Group. Despite the retracement, ONDO remains above its 50-day, 100-day, and 200-day moving averages, which now serve as support levels clustered between $0.31 and $0.34.
Traders are watching the $0.3787 level closely, as a daily close above this point could confirm a breakout and target resistance near $0.42, aligned with a previous Fibonacci retracement level.
Trading volume during the rally climbed to 35.6 million, nearly triple the recent average, while the Relative Strength Index (RSI) rose to about 61, indicating momentum without entering overbought territory.
Short-term liquidity zones between $0.38 and $0.39 may trigger volatility, as derivatives data from CoinGlass suggest concentrated short liquidations in this range. On the downside, support clusters near $0.35 and $0.34 could limit losses if the price retreats further.
New and active ONDO addresses increased for three consecutive days during the rally, reflecting higher market activity.
This material is for informational purposes and does not constitute investment advice.
