ONDO Finance’s token, ONDO, showed signs of regaining strength after breaking above the downward channel in the technical outlook. While ONDO was traded at $0.3853 at the time of writing, its trading volume in the last 24 hours was $86.75 million and its market value was $1.87 billion. Although the price has decreased by 1.47% in the last 24 hours, the technical structure and expansion on the network side are being closely monitored.
Critical support stood out in the technical outlook
Cryptocurrency analyst Crypto Patel notes that ONDO has broken above the descending channel, confirming a possible trend reversal after weeks of downward pressure. Market participants are now watching for a pullback to the breakout zone.
Maintaining the range between $0.378 and $0.35 as support is considered critical for the continuation of the upward structure. If there is a strong reaction from this region, the price is likely to move towards $0.665. While the stop loss level is shown as $0.339 in the analysis, it is evaluated that short-term pressure may increase if it falls below this level.
| Indicator | Level |
|---|---|
| current price | $0.3853 |
| Support range | 0.378 to 0.35 dollars |
| target level | $0.665 |
| cut loss | $0.339 |
Crypto Patel emphasizes that ONDO settling above the downward channel indicates a possible direction change, and maintaining the breakout zone will be decisive in terms of the technical outlook.
SBI partnership expands corporate usage area
On the company side, the cooperation between Ondo Finance and Japanese finance group SBI attracts attention. This partnership aims to move financial assets in Japan to blockchain infrastructure. Thus, a new step was taken in the Asian market in the field of tokenization of real-world assets.
Ondo Finance is known as a structure that focuses on representing traditional financial products on blockchain. SBI Holdings is among Japan’s leading financial groups and operates a wide network from banking to investment services.
SBI Holdings Chief Executive Officer Yoshitaka Kitao said that Ondo Finance stands out in the field of tokenization with its contribution to bridging traditional finance and blockchain.
In the cooperation of the two parties, Ondo’s blockchain infrastructure and SBI’s financial distribution network will be brought together. In this context, it is aimed to make SBI’s yen-backed stablecoin integration possible. This step indicates that Japan’s interest in digital asset infrastructure is strengthening.
Market direction will remain dependent on support test
On the other hand, the ONDO price has not yet moved into a clear upward trend. While the outlook for the overall cryptocurrency market is improving, ONDO’s short-term direction will largely depend on maintaining support in the $0.378 to $0.35 range.
If this zone is tested successfully, the upward momentum may gain strength. Loss of support may increase short-term selling pressure. Market players are also closely monitoring the effects that the partnership with SBI may have on the tokenization side.
