ONDO Crypto Near ATH: Could It Extend To $3 Mark In December?

• A 30% to 40% bullish rally for ONDO will be triggered by a strong flip off the $1.75 resistance zone.
• The tokens are still being accumulated by ONDO Finance whales.
• Globally, nearly 92% of ONDO holders were “In The Money.”

Ondo (ONDO) price has witnessed a massive surge and has climbed 175% since November. However, the ONDO crypto price experienced a dip in the second week of December but bounced back immediately. During this dip, the price has managed to defend the 20-day EMA and has triggered a strong pullback.

Amid this pullback, the price has surpassed the last swing high and nearing an all-time high (ATH). As the price gets closer to a key resistance level at $1.75, the Ondo Finance (ONDO) chart shows a critical juncture.

As the price approaches this resistance, which is marked by a red horizontal line, the candlestick-formatted chart shows a recent increase in price. This line is a focal point for possible breakout analysis because it has historically served as a ceiling for price movements.

ONDO Price Overview Based on Technical Chart

At press time, Ondo crypto was trading at $1.84 which has surged by 3.20% over the past 24 hours. The market capitalization was $2.55 Billion and the 24-hour trading volume was $512.56 Million.

The price has managed to defend the 20-day EMA and nearing an ATH. This pullback seems strong and has the potential to attract buyers.

If the price sustains over the $1.80 level, it could be a bullish signal and buyers might dominate ahead. If the trading volume increases, buying might become confident and drive a further trend.

Alternatively, if the Ondo price fails to hold the ATH territory, a selling opportunity could be generated. If ONDO trades below the 20-day EMA, it could invite sellers. Here, most investors and traders might prefer to book profit which could lead to a bearish trend.

The MACD and the signal line are in positive territory. The histograms have remained green, demonstrating a bullish forecast.

ONDO’s Global In/Out of the Money

From the data, 91.73% of the addresses holding ONDO are ‘In the Money’, suggesting that these holders bought the token at a price lower than $1.71. This indicates that a robust majority of investors currently profit from their holdings.

Conversely, 0.00% are ‘Out of the Money’, which denotes no current holders are at a loss, reflecting strong past price performance or buying patterns below the present price. Additionally, 8.27% are ‘At the Money’, indicating these holders purchased around the current price level.

ONDO Price Prediction Based on Trend

ONDO is at a pivotal point in its price history, it is approaching the critical resistance level of $1.75. A significant percentage of holders are currently in profit and large investors are accumulating. Therefore, there is potential for a bullish rally that could push the price toward $3.

The recent pullback has shown resilience, maintaining support above the 20-day EMA, which could attract more buyers if sustained. However, caution remains; a drop below this level might lead to increased selling pressure.

Overall, the technical indicators are currently favorable, suggesting that if bullish momentum continues, ONDO could reach new highs shortly.

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.