Ondo (ONDO) has shown strong bullish momentum through July with 30% gain, breaking decisively out of the multi-month descending channel that had pressured price since May. The token is now trading above its key moving averages, a structural signal that buyers have regained control of the trend.
Ondo price overview
Ondo was trading at $0.4077 at press time, holding largely flat over the past 24 hours as the broader market consolidates. The token’s market capitalization stands at $1.94 billion, with 24-hour trading volume of $114.83 million reflecting steady liquidity. Of its 10 billion total supply, 4.86 billion ONDO are currently in circulation.
July has been a strong month for Ondo, with the price rallying nearly 30% and fueling bullish sentiment across the market. Technically, ONDO has confirmed a breakout from its descending channel and has pushed above the 200-day EMA, a shift often read as an early signal of trend reversal from bearish to bullish.
ONDO price triggered a breakout, what’s next?
ONDO has triggered a breakout from a descending channel and successfully retested it. Alongside this breakout, the price has surpassed the 200-day EMA on the daily timeframe, a development that could keep the bullish momentum intact over the next few days.
Source: ONDO/USDT price chart on 1-D timeframe by TradingView
If the price manages to hold above the 200-day EMA, buyers would remain in control. Notably, the price has staged a pullback following the breakout, which could set the stage for renewed bullish momentum. Should this momentum play out, the price could rally toward the $0.71 level, marking a potential gain of 72.42%.
On the other hand, if the price slips below the 200-day EMA, it could slide toward the 100-day EMA. Should the bulls fail to defend the 100-day EMA, buyers could lose control, opening the door to a sharper decline.
Can ONDO price reclaim the $1 mark soon?
Ondo has faced aggressive selling pressure on the weekly timeframe. However, the price has since staged a pullback and is now showing early signs of bullish momentum. If this momentum sustains, ONDO could build into a strong bullish trend capable of pushing the price toward the $1 mark.
On the other hand, if buyers fail to hold this momentum, a sharp correction cannot be ruled out. Should the ONDO price slip below the immediate support level of $0.300, buyers would find it difficult to stage a recovery, opening the door to further downside.
Factors supporting ONDO price to reach $1 mark
- RWA Narrative: Institutional adoption of tokenized Treasuries fuels ONDO’s long-term growth tailwind.
- Ecosystem Expansion: ONDO’s expansion across Solana and BNB Chain strengthens investor confidence.
- Tokenized Stocks Catalog: Growing lineup of tokenized equities widens ONDO’s platform utility.
- Analyst Forecasts: Predictions place ONDO’s potential peak between $0.60 and $1.16 in bullish cycles.
Final thoughts
Ondo’s breakout from its descending channel, followed by a successful retest, marks a meaningful shift in market structure after months of selling pressure. Reclaiming the 200-day EMA adds weight to the bullish case, and if buyers manage to hold this level, the path toward $0.71 remains firmly on the table.
That said, the road to $1 is a longer one. It would require sustained momentum beyond the immediate breakout, not just a single leg up. The $0.300 support level is the line in the sand here as long as ONDO holds above it, the broader recovery structure stays intact. A break below could quickly undo the bullish setup and put buyers back on the defensive.
For now, ONDO’s trend looks constructive, but traders should treat the $1 mark as a medium-term target contingent on follow-through, not an immediate certainty. The next few sessions around the 200-day EMA will likely determine which of these paths plays out.
What caused Ondo’s recent price breakout?
Ondo broke out of a multi-month descending channel that had pressured its price since May, coinciding with a nearly 30% rally through July and a reclaim of the 200-day EMA.
What is the next resistance target for ONDO?
If ONDO holds above its 200-day EMA, the price could rally toward $0.71, marking a potential gain of over 72% from current levels.
What happens if ONDO fails to hold the 200-day EMA?
A drop below the 200-day EMA could send ONDO toward the 100-day EMA. If bulls fail to defend that level too, a sharper decline may follow.
Very nice sun crypto