- ONDO Finance hits new all-time high at $1.33, driven by Ethereum ETF hype.
- With recent stability around $1.27, ONDO aims to achieve $2 if it breaks the $1.32 resistance level.
There is an unusual participant in the cryptocurrency market rally.
Pantera Capital’s Ondo Finance has surprised markets and society [ONDO] he have broken All-time high of $1.33 as Ethereum [ETH] The hype around exchange-traded funds (ETFs) continues, making them one of the best-performing cryptocurrencies.
Ondo: These are some of the key levels
The ONDO/USDT pair has shown some interesting moves over the past five days.
Starting from a base of around $1.17, the token saw a sharp increase in trading activity, pushing its price to a peak of $1.33 about three hours ago.
This upward move was followed by typical volatility, with prices pulling back slightly and then trying to stabilize near the $1.30 level before a subsequent pullback to the $1.27 level.
Source: Trading View
ONDO’s trading volume has remained relatively constant, with a notable increase coinciding with rising prices, meaning there has been an increase in buyer interest during that period.
With the price hovering around $1.27 at press time, the market appears to be consolidating after the recent rally. Traders may evaluate the sustainability of recent gains before committing to further positions.
The $1.27 level could also serve as new support if ONDO maintains its foothold, or could see further declines if selling pressure increases.
If ONDO bounces from its current level and breaks the resistance at $1.32, it could pave the way for an uptrend towards $1.5 and even $2.
Realistic or not, this is ONDO’s market cap in terms of ETH
The potential for ONDO to achieve a $2 valuation is very strong, but it is important to realize that various factors beyond technical analysis influence cryptocurrency prices.
Even though we are on the verge of what could be the greatest cryptocurrency rally ever, the market is still incredibly volatile. Proceed with caution. Always Dior!