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ONDO ONDO prices fell under pressure, with holders surging 93% to 450,000
Ondo Finance's native token ONDO is facing new selling pressure after failing to break through the current triangular shape again. The stalled rebound triggered a decline in ONDO prices and heightened concerns that a deeper correction could occur if support fell.
Technical and kinetic signals
Currently, ONDO prices are trading around US$0.34807 after falling 3.24%. The token has fallen below the 20-day simple moving average (SMA) at $0.36386, indicating weakening short-term momentum. Prices are approaching the lower Bollinger Band near $0.33536, a potential key support level. If prices fall below this region with continued selling pressure, ONDO may face further downside risks, with a target range pointing to US$0.30,000.
In early September this year, ONDO encountered resistance at US$0.39,000. Repeated failures to break this level have led sellers to dominate, suppressing immediate bullish expectations. Analysts pointed out that to restore technical strength, ONDO needs to regain its 20th SMA and try again to hit the $0.39,000 mark.
Technical indicators also provide reasons for caution. The MACD line is at 0.00193, lower than the signal line at 0.00209. This produced a negative bar reading of-0.00017, reflecting continued weakening of buying momentum. The red bar chart on MACD continues to expand, highlighting the downturn in bullish activity. Although analysts like LAR maintain a long-term bullish view on ONDO, expecting the token to move towards $0.90, they note that ONDO must first overcome several technical obstacles.
LAR views the recent pullback as a cumulative opportunity and notes: "Weak hands are likely to be purged before the token continues the broader upward trend."
A strong rally above the 20th SMA may be the first signal that the current correction phase is fading, but traders are closely watching the $0.33536 support level for signs of renewed stability.
Changes in the derivatives market
CoinGlass data shows that derivative trading activity around ONDO has decreased. In the past 24 hours, derivatives trading volume fell 16.67% to $213.61 million. Open interest fell slightly by 1.51% to $222.77 million, indicating that many existing positions remain retained but short-term participation declined.
This combination of low volume and persistent open interest suggests that market participants may wait for a critical breakthrough before increasing activity. A rise in prices accompanying a rebound in volume could confirm a stronger market shift, in contrast to a rally that lacked broad participation.
Mini Dictionary: Ondo Finance is a decentralized financial protocol focused on tokenization of real-world assets (RWA), enabling users to gain exposure to traditional investment products on blockchain.
Adoption vs. User Growth
User adoption of the Ondo ecosystem is accelerating despite pressure on price movements. Ondo Finance reported that the number of holders of its tokenized assets, which cover stocks, ETFs and treasury bonds, grew 93% in 30 days to nearly 450,000.
"Each new holder marks a step towards a global, open and on-chain market," the company said.
This surge suggests that even if its impact on ONDO prices has not yet been apparent, the market demand for on-chain tokenized financial instruments is growing. Analysts suggest that while rapid growth in adoption rates helps strengthen ONDO's long-term fundamentals, it may take time to translate into aggressive price action.
In the short term, ONDO is still caught between short-term short power and improved fundamentals. Bollinger band support of $0.33536 and the 20th SMA of $0.36386 are now key technical reference points, while broader adoption continues to climb across the Ondo ecosystem.
