Ondo Contemplates $2.80: Could the Unsuccessful Breakout Be a Precursor?
In the past 24 hours, $1.7 million worth of ONDO tokens have left exchanges, suggesting long-term holders are accumulating during the current dip. This trend, combined with signs of whale accumulation, indicates hidden strength in the ONDO market.
Despite the current bearish signs, the inability of ONDO to clear the resistance level of $1.13 has been consistent with typical consolidation before a bigger move. This price action is supported by institutional inflows exceeding $30 million and participation in JPMorgan–Chainlink pilot programs, which signal serious underlying demand and accumulation by whales and large investors.
Technical and fundamental forecasts predict ONDO can break through resistance above $1.10–$1.15, rallying to $1.40 by mid-2025 and potentially $2.00 or more by end of 2025 if bullish drivers like real-world asset tokenization and governance upgrades progress. Conservative scenarios indicate support around $0.80 to $0.95, showing a well-defined price floor enabling healthy consolidation in preparation for upward moves.
Currently, ONDO is trading below its 50-day EMA on the daily chart, indicating a clear downtrend in the short term. Retail interest in ONDO has waned due to the loss of momentum. However, the potential for a reversal in market sentiment and a subsequent rally in ONDO prices is being discussed among some investors.
On-chain data supports the theory of whale accumulation during the current dip. Transactions between $100K and $1 million have doubled recently, indicating increased large-scale buying activity.
While some investors question whether the failed breakout was a deliberate attempt to lure retail investors out of the market, mainstream price predictions focus on a high-to-mid $1-to-$2 range in 2025. A bearish head and shoulders pattern is forming on lower time frames, which could lead to a drop if the neckline at $0.979 is broken. However, a break above this level could signal a bigger rally, targeting $2.80 in the coming weeks.
In summary, the failure to break above $1.13 is likely a short-term resistance or consolidation phase and does not indicate a bearish trap but rather reflects hidden bullish strength due to accumulation by institutional and whale investors. The general market outlook anticipates a potential for ONDO to advance toward and beyond $2.00 in 2025 if supportive conditions persist.
- The growth of institutional inflows, exceeding $30 million, and participation in JPMorgan–Chainlink pilot programs are indicators of serious demand and accumulation by whales and large investors in the cryptocurrency market, specifically for ONDO.
- The potential for on-chain tokens like ONDO, such as altcoins, to break through resistance levels and rally, like reaching $1.40 by mid-2025 and potentially $2.00 or more by end of 2025, suggests investing in certain cryptocurrencies could yield substantial returns.
- Despite short-term bearish signs, the continued use and advancements in technology in the cryptocurrency market, including real-world asset tokenization and governance upgrades, could lead to long-term bullish trends for various cryptocurrencies like ONDO.
