Ondo Finance (ONDO) is gaining bullish attention as traders watch for a breakout from its descending channel, which could strengthen recovery prospects. Meanwhile, Ondo Perps has launched a new trading competition through Arbital, aiming to boost participation and activity across its perpetual trading platform.
At the time of writing, according to CoinMarketCap data, the token is trading at the price of $0.3897, with an increase of 4.95% in the past 24 hours and up 17.13% over the past week.
ONDO Price Targets $3.5 as Bullish Breakout Potential Builds
According to prominent crypto commentator Captain Faibik, ONDO is showing signs of a potential midterm recovery as traders increase their interest in the token. The price remains inside a descending channel, but attention is now shifting toward a possible breakout from this prolonged bearish structure.
A confirmed move above the channel’s upper boundary could improve ONDO’s technical outlook and encourage stronger buying activity. Such a breakout may signal a shift in market momentum and create room for a broader recovery, with traders closely monitoring resistance for signs of confirmation.
For the ONDO price, sustained buying pressure and stronger trading volume could be crucial for validating the breakout. If resistance is convincingly cleared, the bullish setup could support a move toward the $3.5 target. However, rejection may keep ONDO trading within the descending channel.
Ondo Perps Grand Prix Offers Up to $10,000 in Trading Rewards
Arbital announced that Ondo Perps has launched its third Grand Prix trading competition, giving users a chance to earn a share of up to $10,000 in rewards. The event started on August 24, 2026, at 12:00 AM UTC, and will continue through August 31, 2026, at 12:00 AM UTC.
The campaign is exclusively available to Arbital users trading Ondo Perps during the competition period. Unlike a fixed reward pool, the prize amount will increase with overall trading volume, with the maximum $10,000 pool becoming available as participation and trading activity rise throughout the event.
The promotion adds another incentive for traders to engage with Ondo Perps while potentially driving greater activity across the platform. Participants can join the competition through Arbital and trade during the campaign window, with the final prize pool determined by the total volume generated.
