Ondo Finance (ONDO) yesterday briefly grew by almost 20%, but the profit was changed within 24 hours. Despite this rollback, Ondo remains a major player in the real asset sector (RWA).
Technical indicators suggest that the impulse slows down, while whale activity decreased for the first time in two weeks. Whether the ONDO will restore and pass by the level of key resistance or continue its correction with respect to lower support zones, will depend on the mood of the market and potential future events regarding its inclusion in the reserve.
ONDO RSI is reduced after reaching the highest levels in 3 months
Yesterday, ONDO increased on the defense, advanced its relative force (RSI) index to 76.1 before cooling to 54.8.
RSI is a widely used pulse oscillator, which measures the speed and value of price movements in a scale from 0 to 100. The indications above 70 indicate the terms of the bapture, often signaling the potential refusal.
Meanwhile, the indications below 30 suggest resold conditions that can lead to restoration. With the help of RSI, Ansdo briefly crosses 70, for the first time in three months, the traders perceived it as a sign of a strong bull impulse before recent restoration.
Now, sitting at 54.8, RSI ONDO has fallen into a neutral territory, reflecting a slowdown in the purchase pressure. This suggests that the recent rally may have been renamed, which led to profit and potential period of consolidation.
If the RSI stabilizes above 50, the ONDO can maintain its bull structure and try to move higher.
However, if it continues to decline to 40 or below, this may indicate a weakening of the impulse, increasing the chances of a further drawback.
The number of ANDO whales fell for the first time since mid -February
The number of ONDO whales – wallets containing from 1 to 10 million ONDO – steadily increased from February 17, and by March 1 they grow from 203 to 221.
Nevertheless, this trend has changed over the past few days, and the number of whales has now reduced to 214. The tracking of the whale is crucial, since large holders can significantly affect the movements of prices through their decisions on purchase or sale.
The growing number of whales often signals the accumulation, which indicates confidence in the long -term potential of ANDO, while a decrease may indicate a distribution, which increases the risk of pressure pressure.
Despite the recent fall, the current number of whales remains high compared to the previous months. This suggests that wider confidence in the asset is still not damaged.
Nevertheless, this is the first decrease in 15 days, which can signal that some large holders make profit or movement. If this trend continues down, the RWA coin may face high sales pressure, which can lead to further corrections.
On the other hand, if the numbers of whales are stabilized or begin to grow again, this may indicate a new accumulation. This implies a potential rebound of the price.
ONDO falls below $ 1
A wider market rally pushed the price of ODDO yesterday about $ 1.20 before the start of correction, signaling that traders are making a profit.
While ONDO remains a key player in the real asset sector (RWA), his short -term price movement will depend on whether the current rollback is deepened or stabilized.
If the correction continues, it can check the support of about $ 0.95. A further decline can potentially reduce it to $ 0.90 or $ 0.88. If it falls below 0.80 US dollars, this will be the first time that will happen since November 2024.
However, if bull sentiments are returning, ONDO can restore the impulse, especially if the United States occupies more favorable for crypto-friendly positions on RWAS or if the ONDO is ultimately added to a strategic crypto reserve in the United States.
In this scenario, he can break through through resistance at the level of 1.26 and 1.44 dollars, and a strong rally potentially sends it to $ 1.66.
