Trump-Backed WLFI Trigers Ondo Price Rally to $2.14 All-Time High

The ONDO token, part of the Real World Asset (RWA) sector, has reached a new all-time high of $2.14 following a significant purchase by World Liberty Financial, a crypto project linked to former President Donald Trump. Arkham Intelligence reports that the company bought 134,216 ONDO tokens for $250,000, which helped drive up the token’s price.

This surge represents a strong market reaction to the purchase, with ONDO seeing an impressive 17% increase in the past 24 hours. Interestingly, Real World Assets (RWA) market capitalization has also touched $21.8 billion, up 2.0% over the previous day. Showing that the sector is booming and will be a best buy in the coming months. Let’s see how ONDO is moving the clock for investors. 

Good Time to Buy?

The price surge is not just a result of speculation; it’s supported by real demand. ONDO’s price has increased by 17% in the past 24 hours, making it the top gainer in the market. Along with the price rise, trading volume has jumped by over 120%.

The On-Balance Volume (OBV) indicator, which tracks buying and selling pressure, has reached its highest level in seven months. This is a positive sign, as it shows that the price increase is supported by strong buying interest. When OBV rises with the price, it suggests that the rally has a solid foundation and may continue shortly.

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Can ONDO Break Its All-Time High?

ONDO’s price is currently at $2.05, just below its all-time high of $2.14. If the price breaks above this level, it could reach even higher prices. However, if investors decide to take profits, ONDO might see a pullback to around $1.79, its next major support level. 

ONDO has hit a new all-time high after a six-week rally, posting more than 200% in gains since early November. The surge followed solid support at $1.37 last week and is now targeting a potential high of $2.51, based on Fibonacci projections.

However, with the Relative Strength Index (RSI) at 78, there are signs that ONDO could be overbought, suggesting a possible correction. Additionally, ONDO’s futures Open Interest has surged, indicating continued market interest and the potential for further gains.

With backing from Trump’s crypto project and growing investor interest, ONDO is showing strong potential for continued growth. Investors will be watching closely to see if the token can maintain its upward momentum in the coming days.

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