Key Insights:
- ONDO new addresses jump 390% in 24 hours, signaling strong adoption.
- Price struggles at $0.85 support, while RSI hints at a potential reversal.
- Real-World Assets sector leads with 16.3% gains as ONDO dominates.
ONDO price continues to gain momentum through its expanding network of new addresses and rising institutional support while dominating the Real-World Asset (RWA) market sector. Recent price drops have been followed by positive on-chain data and technical indicator signals, which point to market recovery.
ONDO Sees 390% Surge in New Addresses—What’s Next for Price?
The ONDO network shows explosive growth through its expanding network activity. New addresses on the network increased by 390% within 24 hours as they rose from 935 to 4,559.
This substantial increase demonstrates that more people are adopting the platform while showing signs of increasing investor trust.
However, ONDO price has not yet matched the recent network growth. The token price dropped from $1 to approximately $0.75 even though new user numbers increased.
The token fails to match its network expansion because short-term selling pressure outweighs new demand. But the good news is it maintains its position as a top player in the RWA sector, while its market cap stands at $2.68 billion.
Additionally, the trading volume of the cryptocurrency recorded a 10.82% dip according to CoinMarketCap data, which reached $251.55 million. Trading volume drop often indicates price needs time to stabilize after volatility.
But the current increase in adoption might signal the beginning of another upcoming demand surge.
RSI Bullish Divergence Reversal Ahead?
ONDO price dropped to its $0.85 support level before demonstrating signs of recovery. The price analysis from AltCryptoGems indicates a downward trend with successive lower highs and lower lows. However, technical indicators indicate that the current trend might be shifting.
The Relative Strength Index (RSI) shows a bullish divergence pattern, which indicates price has been making lower lows while the RSI is trending higher.
Weakening selling pressure indicated by this signal typically leads to a market reversal. The next significant resistance point for te token stands at $1.06 after it breaks through $0.85.
A price breakout above $1.06 would signal a trend reversal, according to the analyst, leading to a stronger price recovery. But the price trend may continue downward if ONDO loses its current level of market support.
ONDO Gains Momentum as RWA Sector Outperforms the Market
Real-World Assets (RWAs) have proven themselves as the top-performing crypto sector during the last thirty days. The crypto analyst Ted Pillows believes Real-World Assets will lead the market discussion for years ahead, while ONDO stands as a market leader.
According to Artemis data, the Real-World Assets sector demonstrated a 16.3% increase, while Bitcoin Ecosystem (-41.8%) and Gaming (-40.9%) experienced significant market declines.
Furthermore, the institutional support from Coinbase strengthens ONDO’s position in the expanding sector while adding both credibility and potential long-term stability.
Is ONDO Price Ready for a Breakout?
ONDO stands at a decisive point in its development. The 390% increase in new addresses alongside technical indicators pointing to a reversal demonstrates rising demand.
With the RWA sector’s superior market performance, the token is set to expand its operations. The token will likely experience a momentum shift when it maintains support at $1.06 and surpasses this level.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
