Ondo Finance token ONDO has seen better days, soaring in price by over 90% over the past 30 days. ONDO has been among few cryptocurrencies who have defied the recent crypto market crash to present an outstanding performance. With Bitcoin halving around the corner, expected to happen on April 20, many investors are on the lookout on what altcoins to diversify their portfolio besides Bitcoin. As ONDO exhibits both resilience and growth, is it time to sell or buy? Let’s delve deep into the article to find out.

Ondo Finance  has experienced notable market movement and price changes in the recent past. In the last 24 hours, its price rose by 17.91%, in the previous week by 15.79%, and in the past month by a remarkable 87.28%. This indicates high market interest and possible investment opportunities for investors.
ONDO is currently ranked 70th, boasting a market capitalization of approximately $1.31 billion, according to CoinMarketCap. The token recorded a decrease of 29.59%, reaching around $606 million over the past 24-hours. The ratio of trading volume to market cap is 45.97%, indicating high trading activity compared to the total market cap.
Out of the 10 billion tokens available, ONDO currently has 1.38 billion tokens in circulation. In the last day, it saw notable fluctuations in price, ranging from a low of $0.7795 to a high of $1.02. This spectrum demonstrates the unpredictability that is typical in the cryptocurrency market, as seen with ONDO.
15 days ago, on March 31, 2024, ONDO reached its all-time high of $1.05. Since then, the price has slightly dropped and is now at $0.9449. This shows a drop of 9.06% from its peak value. Even with a slight decrease, ONDO reaching its highest point indicates that investors are showing strong interest in the project.
The market activity and investor interest in ONDO are strong based on its market performance. Despite experiencing fluctuations in prices, there has been substantial growth in the overall trend, especially in the past month.

ONDO Price Forecast: Should You Buy or Sell?

The 4-hour chart technical analysis of Ondo Finance reveals several key indicators to consider for both short-term and long-term perspectives. Let’s delve into each aspect:
Both short-term and long-term moving averages exhibit a bullish sentiment, with Buy actions prevailing across various periods. This suggests a positive trend in the price movement of ONDO Finance.
The MACD (Moving Average Convergence Divergence) Level indicates a Buy signal. This further reinforces the positive outlook for ONDO Finance.
Additionally, the RSI (Relative Strength Index) stands at 60.84430, indicating a neutral position. While it doesn’t provide a clear directional bias, it suggests that the market is neither overbought nor oversold.
The Fibonacci support and resistance levels provide additional insight into potential price movements. The Pivot points indicate a neutral stance at the current level, with potential support at 0.69883, should the price fall and resistance at 1.02283 should the price rise.
Considering the technical analysis, the short-term outlook appears positive, with moving averages and MACD indicating a bullish trend. However, the RSI’s neutral stance implies caution, suggesting a balanced market sentiment.
For the long term, the bullish sentiment persists, supported by the moving averages across various periods. Additionally, the MACD Buy signal reinforces this outlook.

Based on this analysis, whether to make a buy or sell is ultimately determined by your level of risk tolerance and approach to investing. If you are more cautious, it might be wise to wait for clearer signals from the oscillators. If you are willing to accept some uncertainty and feel confident in the moving averages, this may be the opportune time to consider buying ONDO Finance, but be cautious of possible short-term reversals. It is crucial to carefully monitor market conditions, taking into account factors beyond just technical indicators, like fundamental analysis and overall market sentiment, before deciding on any investments as volatility levels offer further understanding of possible price changes.

The post Ondo Finance Price Soared 90%; Buy or Sell? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am