ONDO FINANCE IS ABOUT TO TAKE OFF..?🚀🔥
Ondo Finance ($ONDO) shows a strong bullish momentum in the short term thanks to two main catalysts: the recent spot ETF application by 21Shares with the SEC and the new listing on Binance US, which facilitate institutional and retail access to the token. After hitting a low of about 0.62 USD in June, ONDO has gained about 24.5% in July, closing today at around 1.12 USD.
From a technical standpoint, generally positive signals are observed on the daily chart with indicators like SMA50, MACD, ADX, and Bollinger Bands suggesting strength and an ongoing bullish reversal.
Recommended levels for a short trade:
Entry: area 1.10 - 1.12 USD (current level with good support)
Take profit: first target at 1.60 USD, second at 1.86 USD (technical resistance levels and bullish confirmation)
Stop loss: 1.05 USD (below critical support, to limit downside in case of reversal)
The fundamental context is favorable, with growing interest in real asset tokens (RWA) and a market rewarding institutional entry through regulated ETFs. However, caution remains due to volatility and conflicting technical signals, managing risk with appropriate stops.
