ONDO is rebounding near key support levels, suggesting a breakout from its ascending channel.
Despite a drop in volume, ONDO’s market cap has climbed to $2.36B, showing strong investor confidence.
Over 143,000 holders and a TVL of $1.39B reflect sustained DeFi adoption and token utility.
ONDO is making waves in the crypto market once again as technical and on-chain indicators align to suggest a potential breakout. The token is also capturing the attention of analysts and traders as it has found its momentum back and earned the interest of investors.
Market expert Ali has spotlighted a critical technical setup that could pave the way for significant price action. Meanwhile, fresh data from CoinMarketCap reinforces ONDO’s growing presence in the DeFi space, backed by strong fundamentals and user adoption.
Technical Signals Point to a Breakout Opportunity
According to Ali, a prominent market analyst known for his technical insights, ONDO is showing signs of breaking out of an ascending channel, a formation that has provided a clear trading range for the asset since early 2024. The chart published on TradingView illustrates ONDO's consistent interaction with the channel's trend lines, recently bouncing near the lower boundary around the $0.60–$0.65 range.
This rebound, occurring after weeks of consolidation, suggests a potential reversal in momentum. Ali highlights this as a critical point, indicating the possibility of
ONDO is moving toward the $0.29 level if support holds and bullish pressure intensifies.
The technical setup is particularly compelling given the broader downward correction from ONDO’s previous highs above $2.00 earlier this year. Despite bearish sentiment in recent months, the current positioning near the lower end of the channel could act as a springboard for recovery.
Ali points to historical price reactions within this channel to support the idea of an upward move. But, he warns that a lack of support around $0.70 would negate the bullish argument, and this would trigger another test lower down to the levels around $0.60—and perhaps even the level of $0.52. Traders as well as investors should keep a close eye on this trend since ONDO is soon facing a technical inflection point.
On-Chain Metrics Reinforce Bullish Sentiment
According to the latest data from CoinMarketCap, ONDO has shown modest upward momentum, trading at $0.7482 as of the latest 24-hour cycle—a 1.68% increase on the day.With a significant 23.95% decline in the trading volume to a $72.43 million level, the market cap of the token has increased to $2.36 billion, where the investors started showing their confidence again.
The circulating supply is 3.15 billion ONDO, which has a fully diluted value (FDV) of 7.47 billion dollars and an impressive TVL of 1.39 billion dollars. Having a market cap to TVL ratio of 1.69 and a holder count of more than 143,000, ONDO is still indicating steady user activity and an inflow of capital, which makes it one of the actors in the DeFi sector.
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