• Written by: Michael Fasogbon
  • Thu, 06 Mar 2025
  •   United States

As several altcoins recovered nicely from Tuesday’s crash, Ondo posted a major gain as it formed a bullish pattern on the daily chart. Other real-world asset tokens like Link, Algo and OM are also in the spotlight. Ondo has provided a huge discount over the past few weeks following a broader correction to a three-month [...]

ONDO PRICE ANALYSIS & PREDICTION (March 6) Ondo Leads Rally as RWA Tokens Resurge, Explodes 25%

As several altcoins recovered nicely from Tuesdays crash, Ondo posted a major gain as it formed a bullish pattern on the daily chart. Other real-world asset tokens like Link, Algo and OM are also in the spotlight.

Ondo has provided a huge discount over the past few weeks following a broader correction to a three-month low of $0.9. A bounce occurred, and the price climbed back with a strong close above $1.2 last weekend.

It faced rejection, and the price dropped. The rejection led to Mondays dump that caused serious panic among investors, signaling a potential bearish continuation. It later found support after testing a new monthly of $0.86 the following day. Ondo recovered and closed with a pin bar.

That indicated a potential buy, and the price increased significantly with an engulfing candle close yesterday. Reiterating actions today, the price is now on the verge of breaking up. A strong close above last weeks high should set a new tone in the market as the trend slowly reverses.

Having said that, it is important to note that Ondos bearish trajectory remains intact on the daily chart. A crack below this weeks low should put the asset in a more bearish state. For now, it appeared set for a shift.

ONDOs Key Level To Watch

Source: Tradingview

Now that the price is on the verge of reclaiming last weeks $1.23 high, a break above it should send the price to $1.44 and probably $1.64.

There are currently no signs of drops. If the market pulls back, the closest level to consider is $0.99. A pull below this level could bring us back to the $0.867 low which now holds as support. Breaking it could dip the price to $0.73 in the future.

Key Resistance Levels: $1.23, $1.44, $1.64

Key Support Levels: $0.99, $0.867, $0.73

  • Spot Price: $1.27
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: miss_j/123RF // Image Effects by Colorcinch