ONDO breaks out of the downtrend, showing strong support and growing momentum.
Recent SEC meeting boosts ONDO’s price, with a 7.5% surge crossing $1.
Technical chart shows bullish signals, with ONDO targeting $1.18 after breaking key resistance.
For over a year, Ondo Finance — ONDO, support has stood firm. The trendline has remained intact, and now, ONDO is breaking free from the second downtrend. Momentum is steadily building, and the breakout is just beginning. This could be the start of something big. As ONDO gains traction, everyone from traders to analysts is watching closely, anticipating where this path will lead. The token’s bullish move is igniting a fire, one that shows no signs of slowing down.
https://twitter.com/MerlijnTrader/status/1915828160039686631 ONDO’s Commitment to Compliance and Innovation
The recent meeting between the crypto task force of the SEC, Ondo Finance, and the law firm Davis Polk & Wardwell has sparked great interest in the crypto community. This meeting highlighted the potential of compliance-driven innovation, particularly in the tokenization of traditional assets. ONDO is committed to providing institutional-grade tokenization solutions that adhere to regulatory standards. The news of this meeting led to a significant surge in ONDO’s price.
In a single day, the token rose by 7.5%, crossing the crucial $1 mark for the first time since March 7. This price increase marks the start of a bullish wave, with the token showing over a 17% jump within 24 hours. Analysts predict the momentum will continue, particularly if ONDO manages to close above $0.98. A solid close above that level could push the token to $1.18, a potential 21% increase from its current price.
A Bullish Technical Picture
The technical chart for ONDO paints a clear picture of strength. After a period of consolidation, the token is showing clear signs of a trend reversal. A classic inverse head and shoulders pattern has formed, with a clean breakout above the neckline resistance around $0.88–$0.90. This confirms that a trend shift is underway. The descending trendline from December’s highs has been decisively broken, flipping from resistance to support.
Further bolstering the bullish outlook, the RSI is climbing fast, sitting at 65.27, which indicates strong momentum. The MACD is also in full bullish mode, with a clean crossover above the signal line and growing histogram bars. This all points to increased buying pressure, and ONDO is likely to continue its rise. If momentum keeps up, the token could easily push past $1.20, a level aligned with psychological resistance.
