The current price of ONDO stands at $0.7802 and has had a consistent rise over the last 24 hours by gaining 3.45%. The trading volume of the token in the last 24 hours is $169.63 million, and its market capitalization is $2.46 billion.
Although having declined by -8.30% over the last seven days, ONDO demonstrates the technical indicators pointing to the possible resiliency in the future. Technical indicators reveal that ONDO is now testing a crucial support near the $0.7428 price mark with strong stability.
Traders are watching the activity of ONDO near the Volume Weighted Average Price (VWAP) level residing above $0.7428. This VWAP level has usually instigated previous rallies, becoming significant for the stock of ONDO’s near-term outlook.
If ONDO holds this support level, the market anticipates new buying interest that would push the price toward the $3 target. Recent charts display mixed red and green candlesticks, with the latest green candle indicating that buying strength may be returning.
The bullish scenario remains valid only if ONDO maintains price action above the VWAP and the $0.7428 support level.
ONDO support level is crucial for the rebound
Below this level, the bullish case might get shaken, and the market participants would turn their focus to the lower support levels. The 303% potential upside to $3 remains speculative but shows what traders may expect from a confirmed breakout rally.
Market watchers point to the combination of VWAP support and volume growth as essential factors for further price gains. From a higher perspective, ONDO has demonstrated strength in 2024 by recovering from lows with significant reversals.
A long-term uptrend requires technical consistency as well as wider sentiment in sync with increases in trading volume strength. The way ONDO interacts with its present support base might establish its course during the subsequent few weeks and even months.
