ONDO Price Tests Breakout! Ondo Price To Achieve New ATH This Month?

The cryptocurrency market continues to display significant price volatility with top tokens recording constant fluctuations in their respective portfolios. This indicates increased buying and selling pressure in the crypto space.

Moreover, ETH-based cryptocurrencies have successfully regained momentum with ONDO price adding approximately 8% in valuation within the past 24 hours. Furthermore, the altcoin hints at increasing positive sentiment, highlighting a bullish outlook in the coming time.

Ondo Token Displays Increased Price Action:

The Ondo crypto concluded the previous week on a bearish note by recording a correction of 12.23%. However, the bulls have regained momentum this week by adding 15.77% to their portfolio over the past three days.

Positively, the Ondo coin price has added 7.79% within the past day with a drop of 44.52% in its trading volume. Moreover, despite recording a correction of approximately 2% within the past seven days, this Ethereum-based altcoin has surged 34.64% since its inception, highlighting a bullish outlook in the coming time.

At the time of writing, the price of Ondo crypto was $1.277. Further, with a circulating supply of 1,389,759,838 ONDO tokens, and a total supply of 10,000,000,000 ONDO tokens, the altcoin has secured 51st position in the global crypto-list with a market capitalization of $1.766 Billion.

Ondo Crypto Market Sentiments:

The SMA successfully records a positive crossover in the 1D time frame, suggesting increased bullish sentiment for the Ondo crypto.

The technical indicator, MACD, displays a significant decline in the red histogram, highlighting an increase in the buying-over-selling pressure in the crypto market. Furthermore, the averages show a high possibility of a bullish convergence, suggesting the price will continue gaining value this week.

Will ONDO Price Go Up In 2024?

If the market holds the Ondo coin price above the support level of $1.216, the bulls will continue gaining momentum and test its previous all-time high (ATH) of $1.48 this month. Maintaining the price at that level will set the stage for the ONDO price to head toward its upper level of $1.75.

Conversely, if a trend reversal occurs, the ONDO crypto will retest its support level of $1.216. Moreover, if the bears continue to dominate the market, the altcoin will plunge toward its important support level of $0.984 during the coming time.