ONDO/USDT Technical Analysis
With European approval, ONDO will now be able to offer tokenized US stocks and ETFs in over 30 countries. This development demonstrates the project's intention to grow in compliance with regulations not only in the US but also in Europe. It further demonstrates that ONDO is taking significant steps in migrating real-world assets to the blockchain.
Whether this positive news will be reflected in pricing will be more clearly understood in technical analysis.
Analyzing the chart on the daily time frame, we see that ONDO has touched the lower boundary of the descending channel once again, and the price is currently trying to hold above the $0.5232 support. This area is important because it aligns with both a horizontal support level and the lower trendline of the main descending channel.For this reason, the current setup can be viewed as a high-probability reversal zone.
ONDO has been moving downward inside the channel for some time, but each touch of the lower band has produced a similar bounce. The current structure looks very similar. If the price can stay above $0.5232, another upward move inside the channel is likely.
The first resistance for a potential rebound is $0.5687. A move above this level would strengthen upward momentum. After that, the next resistance levels are $0.6214 and $0.7097, which also align with the channel’s midline — meaning price may naturally face some difficulty there.
If the price falls below $0.5232 and closes under it, the next support appears at $0.5012. A break below this zone would open the way toward the lower end of the channel at $0.4529 – $0.46, which is the strongest support area on the daily chart.
Summary
- ONDO is currently sitting at the lower trendline of the descending channel.
- $0.5232 is a strong support with a high chance of a reversal.
- As long as price holds above it, targets are $0.5687 → $0.6214 → $0.7097.
- Below $0.52, the downside risk increases toward $0.50 and $0.45.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
