ONDO Price Could Pump 40% As 78% Traders Go Long

Key Insights

• Experts predicts that a daily candle closing above $1.20 could propel ONDO price by 40% to 50%.
• Amid this bullish market sentiment, 78% of Binance traders are taking long positions.
• Despite the notable price uptick, $1.20 million worth of ONDO tokens have left exchanges, hinting at potential accumulation.

ONDO, the native token of Ondo Finance, is garnering massive attention from traders and investors due to its bullish price action. Additionally, crypto experts have shown strong interest in the token, making bold predictions about the ONDO price future.

ONDO Price Momentum and Expert Prediction

Amid the ongoing bullish market structure, a prominent crypto expert on X (formerly Twitter) predicted that a daily candle close above $1.20 could propel ONDO price by 40%–50% in the coming days.

The expert explained that this strong, optimistic view is based on ONDO forming a bullish double-bottom price action pattern. He further added, “Utility tokens are pumping, and ONDO will soon follow.”

This post on X gained widespread attention and significant traction. With ONDO’s price nearing the $1.20 level and given the current market sentiment, the asset appears to be on the verge of a massive price uptick.

At the time of writing, ONDO was hovering near the $1.07 level, having registered a price surge of over 6% in the past 24 hours. As the price approaches the breakout level, participation from traders and investors has risen notably. That resulted in a 15% surge in trading volume.

This surge in trading volume, along with the price increase, hints at strong upside momentum. It shows ONDO price has the potential to break key resistance levels in the near term.

ONDO Technical Analysis and Key Technical Levels

According to expert technical analysis, ONDO appeared to be forming a bullish double-bottom pattern on the daily time frame. It was also on the verge of a breakout.

As per the daily chart, the last time the asset reached this level, it faced notable selling pressure. That resulted in a sharp price dip, which could be a concern if market sentiment shifts again..

Based on price action, if ONDO breaks the neckline of the double-bottom pattern and closes a daily candle above $1.14, it could trigger a 40% price surge. That could push ONDO toward the $1.60 level.

On the other hand, if sentiment shifts and the price fails to break through, a sharp price dip could occur. In that situation, the asset price could repeat its previous pattern from that level.

At press time, ONDO price was trading above the 200-day Exponential Moving Average (EMA) on the daily timeframe. It showed that ONDO was in a strong uptrend with sustained bullish momentum.

Bullish On-Chain Metric for ONDO Price

With bullish price action and strong technical analysis, traders and investors have shown increased interest in the asset, as revealed by the on-chain analytics platform CoinGlass.

Data indicated that the Binance ONDO/USDT long/short ratio was at 3.69 at the time of writing. It signaled that bullish bets outnumbered bearish ones by 3.69 times.

Additionally, this metric revealed that 78.68% of Binance traders were currently betting on long positions, while 21.32% were on short positions.

During the same period, investor accumulation was also continuing. CoinGlass’ spot inflow/outflow data showed that over the past 24 hours, $1.20 million worth of ONDO tokens have left exchanges.

This modest outflow hinted at potential accumulation. That could create buying pressure and drive an upside move. When combining these metrics with technical analysis, it appears that bulls were dominating and could help ONDO price breach its prolonged resistance level.