ONDO Price Retreats to $0.94 Despite ETF Filing and Binance.US Listing

Quick Take

• ONDO currently trading at $0.94 (-5.08% in 24h)
• Ondo technical analysis shows bearish momentum with MACD histogram turning negative
• Recent ETF filing by 21Shares and Binance.US listing provided strong weekly gains of 20%

What’s Driving Ondo Price Today?

Despite experiencing significant positive developments over the past week, ONDO price has encountered selling pressure in the last 24 hours. The token is down 5.08% today, trading between $0.92 and $0.99, as profit-taking activities appear to be weighing on the market.

The recent 20% weekly rally was primarily driven by two major catalysts. On July 22nd, 21Shares filed an S-1 registration with the SEC for a spot ONDO ETF, marking a significant step toward institutional adoption. The proposed ETF would hold ONDO tokens directly and track the CME CF Ondo Finance-Dollar Reference Rate, potentially opening the door for traditional investors to gain exposure to the real-world asset tokenization space.

Simultaneously, Binance.US announced the listing of ONDO, enhancing accessibility for U.S. traders and contributing to an 8% intraday surge when the news broke. However, today’s price action suggests that short-term traders are taking profits after the substantial weekly gains.

ONDO Technical Analysis: Mixed Signals Emerge

The current Ondo technical analysis presents a complex picture for traders. ONDO’s RSI sits at 47.52, placing it in neutral territory and suggesting neither overbought nor oversold conditions. This neutral reading indicates that momentum could shift in either direction depending on market catalysts.

However, bearish momentum is emerging in other indicators. ONDO’s MACD histogram has turned negative at -0.0158, signaling that bearish momentum is building despite the MACD line remaining above the signal line. The Stochastic oscillator shows oversold conditions with %K at 5.14 and %D at 19.46, which could indicate a potential bounce if buying interest emerges.

From a moving average perspective, ONDO price currently trades below both the 7-day SMA ($1.01) and 20-day SMA ($1.00), but remains well above the 50-day SMA ($0.86), maintaining the longer-term bullish trend structure.

Ondo Price Levels: Key Support and Resistance

Based on Binance spot market data, several critical Ondo support levels are coming into focus. The immediate support lies at $0.85, which aligns closely with the lower Bollinger Band at $0.86. This zone represents the first major test for buyers.

Should the $0.85 level fail to hold, Ondo strong support at $0.62 becomes the next critical area to watch. This level corresponds to significant historical buying interest and could attract value-seeking investors.

On the upside, ONDO resistance remains substantial at $1.17, which represents both immediate and strong resistance according to current technical levels. A break above this level would likely target the 52-week high of $1.14, creating a potential breakout scenario.

The current ONDO/USDT trading pair shows the token positioned at 0.2881 on the Bollinger Band %B scale, indicating it’s closer to the lower band than the upper band, suggesting potential oversold conditions in the near term.

Should You Buy ONDO Now? Risk-Reward Analysis

For conservative traders, waiting for ONDO price to establish clear support above $0.95 (the current pivot point) would provide better risk management. A position above this level with a stop-loss at $0.85 offers a reasonable risk-to-reward ratio.

Aggressive traders might consider the current dip as a buying opportunity, particularly given the recent positive fundamental developments. However, they should be prepared for potential further downside to the $0.85 support zone.

Swing traders should monitor ONDO’s RSI for any movement above 50, which would signal a return to bullish momentum. Combined with MACD histogram moving back to positive territory, this could indicate the correction is complete.

The daily ATR of $0.08 suggests moderate volatility, providing opportunities for both day traders and position traders, but requiring appropriate position sizing given the price swings.

Conclusion

ONDO price faces a critical juncture at $0.94, with immediate support at $0.85 likely to determine short-term direction. While recent fundamental developments remain strongly positive, technical indicators suggest caution in the next 24-48 hours. Traders should watch for either a bounce from current levels or a test of the $0.85 support zone to determine the next significant move in ONDO price action.

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