Recently, the governance token ONDO has attracted considerable attention - the price seems to be on the verge of falling 📉, yet various indicators suggest it might be undervalued 💡. These two situations can actually coexist, which is precisely why such tokens make short-term traders both anxious and excited.
Price Pressure vs Indicator Signals ⚖️
Since mid-July, ONDO has maintained the key support level of $0.87, but recent daily charts show a bearish market structure - with consistently lower highs, and the CMF (Chaikin Money Flow) below -0.05, indicating a continual outflow of capital, with sellers dominating. If the selling pressure continues, ONDO may really break the support zone 😬.
However, the indicators reveal another possibility: Santiment data shows that since late July, network growth and daily active addresses have remained stable, with neither expansion nor contraction. During market volatility, this is actually a positive signal ✅.
The movement of idle tokens suggests accumulation opportunities 🔍
The 'Consumption Age' indicator (tracking dormant coins) shows that in the past few weeks, idle tokens have not moved significantly.
This means that a large-scale sell-off has not really occurred, and some small wallets (holding ≤1 million ONDO) have maintained stable purchases, slightly bolstering support. In contrast, the number of large wallets (1 million–100 million ONDO) has slightly declined but not dramatically, indicating some signs of accumulation.
SOPR Indicator: Many are at a loss, potential buying window? 📊
According to Glassnode's SOPR (Sale Price / Purchase Price) data, ONDO's current SOPR is 0.98, which means that most holders are in a loss position. Since late July, SOPR has been hovering in the 0.9–1 range, briefly spiking to 1.4 in August. The current low SOPR suggests that ONDO may have undervalued opportunities—high risk, but also significant return potential 💰.
Summary: Opportunities and risks coexist ⚠️💎
Risk Warning: Price charts indicate that ONDO may have further downside potential, and traders must be vigilant about support levels breaking.
Buying Signal: Stable network activity, idle tokens have not moved significantly, small wallets are continuously buying, and low SOPR suggest that ONDO may be in an undervalued stage.
In simple terms, ONDO is like a potential stock with a warning light: on the surface, there is heavy selling pressure, but underneath, there are signs of accumulation. Short-term operations can seize rebound opportunities, but remember to control your positions; the risk is on you ⚡😉.
In the crypto space, situations where 'prices are bearish but indicators are bullish' are quite common—arming yourself with data is more important than blindly following trends 📈.
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In the current market environment, short-term operations are indeed necessary. If you keep waiting for spot prices to rebound, it might feel like an agonizing wait. I have also been fully engaged in secondary short-term and primary operations, and the results have been good. Friends who want to keep up can follow me privately!
