Will New US Gov’t Send It To $3?
Ondo (ONDO) surged 10% in the past 24 hours, regaining key levels and trying to break out of the downtrend while most of the market remains sideways. Some analysts believe that the new crypto-friendly government could push the coin’s price to all-time highs (ATH).
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ONDO targets rebound to new ATH
On Friday, tokenized real-world asset (RWA) platform Ondo Finance saw its native token lead The cryptocurrency market has seen daily gains of 11%. The cryptocurrency surged to the $1.50 mark for the second time this week, reigniting investor confidence in the token.
The coin has gained 120% in the past three months, climbing from the $0.60 mark to its current price range. Additionally, the post-election rally, fueled by Donald Trump, pushed the cryptocurrency as recently as $2.14. Decentralized Finance Project buying spree.
In December, Trump’s World Liberty Financial (WLF) launched a $45 million cryptocurrency buying spree, acquiring millions in Ethereum (ETH), Chainlink (LINK), Aave (AAVE) and others Tokens.
In the middle of this month, WLF purchased 134,216 ONDO tokens at a price of 250,000 USDC, pushing the price of ONDO above the $2 mark. Nonetheless, the cryptocurrency’s bullish momentum stalled after a market correction on December 19, with ONDO falling back to $1 over the next few days.
Since then, ONDO has been unable to regain resistance at $1.60, spending most of the month hovering in a price range of $1.09 to $1.45. Cryptocurrency Trader Miky Bull famous The coin is looking bullish today as it attempts to break out of the downtrend.
The cryptocurrency has been in a downward trend for a month since hitting its latest ATH and attempted a breakout earlier this year. Today, the coin is attempting another breakout and is currently holding above the downtrend line.
According to the post, a breakout for the “King of RWA” could target the $2-3 price range. However, the cryptocurrency needs to hold above $1.30 to confirm a breakout. Additionally, ONDO should catch It is approaching the $1.50 mark and continues to be bullish towards the $1.60 resistance.
Will New Pro-Cryptocurrency Government Boost U.S. Coin Development?
Market Observer Detoshi tip Pointing out that ONDO has recovered to key levels after its recent performance, this could support a rally to a new ATH. According to the post, the coin has regained its previous ATH levels, which were a key resistance before the December rally and an important support during smaller market corrections.
Meanwhile, altcoin Sherpas are also Highlight ONDO’s performance suggests that the cryptocurrency’s chart “looks strong,” adding that it is a “good beneficiary of pro-crypto governments.”
Likewise, analyst Ted Pillows advised investors to “keep a close eye on Trump and his wallet,” which includes ONDO, as the coins are expected to perform well in the next leg of the rally.
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It’s worth noting that the “Made in the USA” category is Created Watch Trump’s inauguration on platforms like CoinGecko and CoinMarketCap. This category includes ONDO, TRUMP, SUI and other large players such as Solana (SOL), Cardano (ADA) and XRP.
Cryptocurrency leaders and investors Anticipate These tokens could be the “next big narrative,” driven by a new industry-friendly administration in the U.S. and the expected end of the “enforcement regulatory” approach led by the previous administration.
At the time of writing, ONDO is trading at $1.51, up 20% on the weekly time frame.
Featured image from Unsplash.com, chart from TradingView.com
