- ONDO Finance hit an all-time high of $1.33, driven by excitement over Ethereum ETFs.
- Having stabilized at around $1.27 recently, ONDO could aim for $2 if it breaks above the resistance of $1.32.
The cryptocurrency market's surge has an unfamiliar entrant.
Pantera Capital's Ondo Financing Surprises the Market and the Community [ONDO] Have broken Ethereum hits an all-time high of $1.33. [ETH] The ETF hype is gaining momentum and it has become one of the best performing cryptocurrencies.
ONDO: These are some important levels.
The ONDO/USDT pair has seen some interesting movements over the past five days.
Starting from a base of around $1.17, the token saw a surge in trading activity, with the price hitting a peak of $1.33 about three hours ago.
This upward move was followed by typical volatility as the price retreated slightly and then tried to stabilize near the $1.30 mark before pulling back to the $1.27 level.
Source: TradingView
ONDO trading volume has remained relatively stable with notable increases coinciding with price spikes, implying increased buyer interest during that period.
With prices hovering around $1.27 at the time of writing, the market appears to be stabilizing after the recent surge, and traders may be trying to assess the sustainability of the recent gains before taking further positions.
If ONDO maintains its footing, the $1.27 level could act as new support, but increased selling pressure could result in further declines.
If ONDO can bounce back from the current levels and break out of the resistance at $1.32, it could begin an uptrend to $1.5 and then $2.
Regardless of whether it is realistic or not, ONDO's market capitalization in ETH equivalent is as follows:
While it is very likely that ONDO will achieve a valuation of $2, it is important to realize that a variety of factors influence the price of cryptocurrencies beyond technical analysis.
Although we are on the brink of the greatest crypto bull market in history, the markets remain extremely volatile. Proceed with caution. Always DYOR!
