Key Insights:
- Ondo price has formed an inverse head-and-shoulders pattern.
- The total value locked in the network jumped to a record high.
- Ondo has launched a platform for tokenized stocks.
Ondo price rose for two consecutive days as investors waited for the new development on tokenized stocks and the total value locked (TVL) in its network jumped to a record high. It was trading at $0.9700, up from this month’s low of $0.8515.
Ondo Price Could Surge as an Inverse H&S Pattern Form
The daily chart shows that the Ondo crypto price could be on the verge of a strong bullish breakout in the coming weeks. It has moved slightly above the 50-day Exponential Moving Average (EMA), a sign that bulls are gaining control.
Meanwhile, the Relative Strength Index (RSI) has jumped above the neutral point at 50. In most periods, assets tend to do well when the RSI crosses that level.
Ondo price has also formed a small double-bottom pattern at $0.8515 and a neckline at $1.1. Most importantly, it has slowly formed an inverse head-and-shoulder pattern, often leading to a bullish breakout.
The head section is at $0.6230, the left and right shoulders are around $0.8515, and the neckline is at the resistance level at $1.1260.
Therefore, the most likely scenario is where the Ondo token stages a strong comeback in the near term. The first price target is the neckline at $1.1260.
Measuring the distance from the neckline to the head shows that it is 45%. Calculating the same distance from the neckline shows that the target price is $1.6392. This target coincides with the highest swing in January this year.
The bullish Ondo price forecast will become invalid if it moves below $0.8516, invalidating the inverse H&S pattern.
Ondo Finance TVL Has Jumped to an All-Time High
One fundamental catalyst for the Ondo price is demand for its assets. DeFi Llama data shows that the network’s total value locked (TVL) jumped to a record high of $1.39 billion. This figure is much higher than the $549 million it started the year at.
One of these assets is in the Ondo US Dollar Yield Token (USDY), which has accumulated over $693 million and an annual percentage yield of 4.20%. This coin is often seen as a better stablecoin than popular names like Tether and USDC because it pays interest. In its case, $1,000 invested in it at inception would now be worth $1,102.
The other asset in its platform is the Ondo Short-Term US Treasuries Fund (OUSG), which has gained $723 million. This fund, which is created for institutional investors, provides an APY of 4.14%.
Consequently, data by DeFi Llama shows that the annualized fee made by the network has jumped to over $55 million.
Ondo Markets is at the Forefront of Tokenization
The Ondo crypto price could continue rising as it becomes one of the top players in the real-world asset (RWA) industry by also focusing on the stock market.
Ondo Global Markets launched on September 3, creating a platform for users to buy and sell over 200 stocks. Some of the top stocks available on the platform are Nvidia, Tesla, Mara Holdings, Google, and Pfizer.
Tokenized stocks are meant to track the real American shares, making them available to it international clients. Top companies like Robinhood and Kraken have embraced the sector.
Summary
Ondo crypto price could be ripe for more gains in the coming weeks, helped by its strong fundamentals and technicals. Technically, it has formed a double-bottom and an inverse head-and-shoulders pattern. It also moved above the 50-day moving averages.
At the same time, the coin will benefit as the total value locked jumped to a record high. This trend will accelerate when it launches its markets platform for tokenized assets.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
