The ONDO token has recorded a new all-time high of $0.9510 today, highlighting a massive bullish influence in the crypto space for this altcoin. Further, it continues to record massive price action, resulting in receiving significant attention from investors.
After displaying a neutral sentiment for a period, the ONDO price gained significant attention from the crypto industry, resulting in the altcoin breaking out of the resistance level. The token then traded sideways for the next week, indicating a weak price action for the coin.
The market volatility grew, and the bulls successfully recorded a top of $0.682, after which the price faced rejection and started trading under a bearish influence. The Ondo coin price recorded a loss of 41.72% over the next eleven days.
After testing its low of $0.384, the bulls regained momentum and recorded a jump of 111.45% within the next two days, following which the price traded in a closed range for a while. Recently, the bulls jumped over 30%, resulting in the ONDO token successfully recording a new ATH.
The technical indicator, MACD, shows a constant uptrend in the green histogram, highlighting an increased buying-over-selling pressure in the crypto market. Moreover, the averages show a rising pattern, suggesting the price will continue gaining value this week.
Will ONDO Price Go Up?
If the market holds the price above the support level of $0.944, the bulls will continue to gain momentum and test its $1 mark. Maintaining the price at that level will set the stage for the ONDO price to attempt to test its upper resistance level of $1.20 in the upcoming weeks.
Conversely, a bearish trend reversal may pull the price toward its support level of $0.812. Further, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.682 in the coming time.
