- The price of Ondo is going up to about $0.26 after going down the necessary support.
- Ondo leads indexed stocks, ETFs with $825M TVL at peak.
- Failure to have support can result in ONDO being $0.20.
Ondo (ONDO) is trading near critical support levels, with intraday activity including resistance above $0.26.
The token is at these levels because the activities of the groups around the tokens and exchange-traded funds (ETFs) attract investment and sales.
However, with prices below $0.30 since early February, could the majority of real world wealth (RWA) be ONDO?
Ondo Finance empowers access to tokenized stocks and ETFs
Ondo Finance has emerged as one of the largest platforms for stocks and ETFs.
Currently, it accounts for more than half of the segment’s total market share by value, with RWA-focused analytics indicating that the protocol is hitting $825 million in closed value (TVL) at its peak.
The acquisition cuts more than 250 US stocks and ETFs, including blue-chip names such as NVDA, AAPL, and major ETFs such as SPY and QQQ.
The asset is now available on Solana, Ethereum, and BNB Chain, giving its holders exposure to large amounts of money through major wallets, exchanges, custodians, and protocols such as Binance, Bitget, MetaMask, Ledger, and Blockchain.com.
In an effort to increase growth, Ondo recently announced a partnership with Broadridge.
Its purpose is to help the shareholders of more than 250 stocks and ETFs to participate in proxy voting and to receive official documents and offer messages related to these securities.
Separately, more than 260 Ondo-backed tokenized products are now listed on the KuCoin Web3 Wallet, which shows the growing integration in major crypto assets.
Despite this success, the cost of ONDO has remained low, which raises questions about the imbalance between the protocol’s scalability and cost effectiveness.
Technical analysis of ONDO prices: can bulls return to $ 0.30?
From a technical point of view, ONDO is currently moving in the short-term with the price integrating around $0.26.
The daily chart shows the relative strength index (RSI) in the neutral zone, indicating no oversold or oversold, while the MACD mechanical line remains neutral, confirming a strong bearish trend.
Support levels are around $0.24-$0.26, an area for both bulls and bears.
If the price drops, it could pave the way to $0.20, while a hold above $0.26 could lead to a retest of the recent highs near $0.27–$0.28.
The main goal of the bull will be the new run of $ 0.30, the level that was seen in mid-February.
During the weekly period, the RSI is moving towards the oversold zone, and the price is trading below the EMA (EMA).
This shows fatigue but also shows that the bulls need a better exit than resistance to change the bias at all.
