Ondo price witnessed a sharp correction after staging an impressive 35% recovery rally over the past few weeks. However, the latest price decline has introduced fresh uncertainty among traders after the sudden demise of its founder & CEO, Nathan Allman, triggered panic-driven selling pressure across the ecosystem. The correction appears to have been amplified by profit-taking and emotional market reactions.
However, the broader market structure has not completely turned bearish yet, as buyers continue to defend important support zones during the ongoing pullback. With the RWA remaining one of the strongest sectors, traders are now watching whether ONDO can stabilise above its key support and regain momentum for another upward move in the coming sessions.
As seen in the chart above, the ONDO price is attempting to reclaim the crucial resistance zone between $0.45 and $0.46 after buyers strongly defended the local support near $0.40. The latest rebound suggests bullish momentum is gradually returning, while the RSI continues to trend higher, indicating growing strength behind the recovery rally. Meanwhile, the 50-day MA is moving closer to a bullish crossover with the 200-day MA, forming a potential Golden Cross that could trigger a fresh upswing in the coming sessions.
However, this bullish confirmation may occur only if the ONDO price decisively breaks above the key resistance range, which has remained a major barrier since the beginning of the year. A successful breakout could initiate the next leg up toward the immediate target near $0.52. Sustained bullish momentum above these levels may eventually push the price toward fresh highs above $0.60.
On the contrary, failure to overcome the resistance zone near $0.45 could keep the ONDO price trapped within a broader consolidation range. In such a case, bearish pressure may intensify again, potentially dragging the price back below the crucial $0.40 support level.
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