Is ONDO ready to soar? Keep an eye out for 2 key areas

• Whale accumulation highlighted robust confidence as ONDO traded inside key help and resistance ranges.
• Technical indicators recommended oversold situations, with massive transactions signaling potential bullish momentum.

A single entity has re-entered the Ondo [ONDO] market with a staggering $7.87M throughout 5 wallets, only a week after promoting.

The most important buy noticed $2.46M USDT spent to amass 1.64M ONDO, signaling renewed confidence within the token. 

At press time, ONDO was buying and selling at $1.43, down 2.15% within the final 24 hours, as merchants assess its subsequent transfer.

This strategic accumulation raises questions on whether or not the token is getting ready for a major rally or stays prone to additional value fluctuations.

ONDO value evaluation: Navigating key ranges

ONDO has been battling to keep up its essential help zone between $1.40 and $1.50 after retreating from a excessive of $2.00 earlier this month.

At present, resistance at $1.79 poses a formidable problem for bulls, with a profitable breakout probably resulting in the $2.30 mark. 

Nevertheless, if help breaks, the worth may take a look at the $1.20 stage, creating room for bearish momentum.

Subsequently, its near-term motion hinges on its potential to reclaim larger floor whereas consolidating inside this key vary.

Supply: TradingView

ONDO handle stats: Shifting traits amongst holders

The handle exercise paints a nuanced image of the token’s ecosystem. New addresses elevated barely by 0.72%, indicating continued curiosity, however lively addresses declined by 6.73% over the previous week. 

Moreover, zero-balance addresses dropped by 9.04%, suggesting some holders are re-engaging with their wallets.

This shift displays blended sentiment as traders recalibrate their positions, balancing between optimism and warning amid market volatility.

Supply: IntoTheBlock

Transaction stats: Rising institutional exercise?

Transaction information signifies sturdy development in large-value transfers, underscoring growing confidence in ONDO.

Transactions between $10,000 and $100,000 rose by 156.73%, whereas these exceeding $1 million surged by 100%. 

These figures recommend heightened curiosity from institutional or high-net-worth traders in search of strategic publicity.

Consequently, this uptick in transaction quantity aligns with the broader narrative of ONDO’s potential to draw vital capital flows.

Supply: IntoTheBlock

Technical indicators: Will momentum flip bullish?

Technical indicators present potential alerts for a restoration. The STOCH RSI at 3.76 factors to oversold situations, hinting at a doable rebound within the quick time period. 

In the meantime, the MACD stays destructive at -0.069, however the narrowing hole between its strains suggests diminishing bearish momentum.

If these indicators align with bettering sentiment, the token may see a reversal in its current downtrend.

Supply: TradingView

Learn Ondo’s [ONDO] Value Prediction 2024–2025

ONDO seems to be constructing a case for a major rally, supported by whale accumulation, elevated large-value transactions, and bullish technical setups.

Whereas challenges stay, the market exercise suggests the token is gearing up for a robust upward transfer. Subsequently, it appears more and more possible that ONDO may surpass $2.00 within the coming weeks.