- Whale accumulation highlighted strong confidence as ONDO traded within key support and resistance levels.
- Technical indicators suggested oversold conditions, with large transactions signaling potential bullish momentum.
A single entity has re-entered the Ondo [ONDO] market with a staggering $7.87M across five wallets, just a week after selling.
The largest purchase saw $2.46M USDT spent to acquire 1.64M ONDO, signaling renewed confidence in the token.
At press time, ONDO was trading at $1.43, down 2.15% in the last 24 hours, as traders assess its next move.
This strategic accumulation raises questions about whether the token is preparing for a significant rally or remains susceptible to further price fluctuations.
ONDO price analysis: Navigating key levels
ONDO has been battling to maintain its critical support zone between $1.40 and $1.50 after retreating from a high of $2.00 earlier this month.
Currently, resistance at $1.79 poses a formidable challenge for bulls, with a successful breakout potentially leading to the $2.30 mark.
However, if support breaks, the price could test the $1.20 level, creating room for bearish momentum.
Therefore, its near-t…
