Why the ONDO Token Price Has Climbed To a New All-Time High
Real World Asset (RWA) token ONDO surged to an all-time high of $2.14 in early Asian trading on Monday. The rise comes after news broke that Donald Trump’s crypto project World Liberty Financial purchased 134,216 ONDO tokens for 250,000 USDC.
ONDO token price is expected to extend its gains in the near term as the bullish bias strengthens. This analysis details why.
Ondo hits new highs thanks to Donald Trump
According to the on-chain analysis platform Arkham IntelligenceIn early Asian trading on Monday, Donald Trump’s cryptocurrency project World Liberty Financial spent 250,000 USDC to purchase 134,216 ONDO tokens through Cow Protocol.
The tokens were purchased at an average price of $1.83, triggering a short-term surge The price of ONDO is as follows A sizable acquisition. it drove RWA-based tokens to an all-time high of $2.14 before a slight correction.
Despite this pullback, ONDO still rises 17% In the past 24 hours, it became the market’s biggest gainer. The price spike was accompanied by a corresponding rise in ONDO’s daily trading volume, which soared by more than 120% during the review period.
When trading volume surges in conjunction with an increase in asset prices, it indicates strong market interest and participation. This suggests that price increases are supported by real demand for the asset, rather than purely speculative. This combination suggests that the asset may see continued upward momentum as more traders actively purchase it.
ONDO’s rising on-balance volume (OBV) confirms this accumulation trend. At the time of writing, the number reached a seven-month high of 1.74 billion, up 3% in the past 24 hours.
The OBV indicator tracks the cumulative trading volume of an asset. It adds volume on up days and subtracts volume on down days to measure buying and selling pressure. When OBV climbs during a price increase, it indicates that the price increase is supported by strong buying interest, indicating that the upward trend may be sustainable.
ONDO Price Forecast: There is room for further growth
On the daily chart, ONDO is trading at $2.05, just below its all-time high of $2.14, a level that has formed resistance. A successful breakout of this resistance level will drive ONDO’s price to new peaks.
However, this bullish forecast will be invalidated if profit-taking activity returns. in this case, ONDO token price will fall It recently rose and fell to the next major support level at $1.79.
Disclaimer
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