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The Ondo worth pumped 16% within the final 24 hours to commerce at $2.09 as of 02:56 a.m. EST on buying and selling quantity that skyrocketed 140% to $882 million, in line with CoinGecko.
This comes after the information of an ONDO buy by World Liberty Monetary (WLFI), a venture supported by the household of Donald Trump. Trump’s WLFI bought 134,216 ONDO value $250,000 USDC by CoW Protocol.
Trump household crypto venture World Liberty spent 250,000 USDC to buy 134,216 ONDO by Cow Protocol at 6:51 UTC+8 on December 16. Ondo Finance focuses on RWA tokenization and improves monetary market liquidity and effectivity by merchandise comparable to tokenized short-term…
— Wu Blockchain (@WuBlockchain) December 16, 2024
Beforehand, ENA, AAVE, and LINK additionally skilled upward developments after the WLFI venture purchased their tokens.
Ondo Worth On A Continued Bullish Rally
The ONDO/USDT chart on the 4-hour timeframe highlights a transparent bullish development as costs surge sharply, breaking by key resistance ranges. A big rounded backside has shaped between late October and November, marking a bullish reversal after months of sideways and bearish worth motion. The breakout above $0.85 validated this reversal and triggered a robust uptrend.
Because the breakout, the Ondo worth has moved parabolically to its present degree of $2.09, with a excessive of $2.14. This transfer signifies robust momentum and shopping for curiosity.
The Ondo worth has stayed persistently above the 50-day Easy Shifting Common (SMA) (inexperienced line) and 200-day SMA (purple line), demonstrating that patrons are firmly in management. The steep slope of the SMAs confirms the energy of the present uptrend.
In the meantime, the Relative Energy Index (RSI) is at 67.25, approaching the overbought zone (70+). Whereas not but overbought, this means robust momentum but in addition hints at potential short-term exhaustion. If the RSI strikes above 70, a minor retracement or consolidation might happen.
The blue Shifting Common Convergence Divergence (MACD) line (0.05826) is above the orange sign line (0.04423), confirming bullish momentum. The MACD histogram stays optimistic, indicating continued shopping for strain.
ONDO/USDT Chart Evaluation (Supply: Tradingview)
Ondo Worth Prediction
The overall ONDO worth evaluation signifies that the asset is on a sustained bullish rally that goals to push the worth of Ondo above its present all-time excessive (ATH) at $2.14. If the bulls maintain this momentum, the subsequent goal might be round $2.50 or larger.
Nonetheless, given the approaching overbought RSI, a pullback to $1.76 and even the 50-day SMA close to $1.50 might happen earlier than the subsequent leg larger.
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