Ondo Finance, a prominent player in the real -world property tokens, lives in a bear market, falling more than 45% of the high of November 2024.
The price of Ondo (Ondo) was trading at $ 1.60 on Thursday, marking a 30% increase from its lowest level this year. However, strong technical and fundamental indicators suggest a possible reversal in the coming weeks.
A major factor supporting potential recovery is the continuous growth of the ecosystem of Ondo Finance. According to the Defee Lama, the total value closed in Ondo’s ecosystem has overtaken $ 1 billion for the first time. This is a significant increase from $ 541 million at the beginning of the year.
The increase is powered by its two tokens of assets: Ondo Short-Term US Treasury Fund (OUSG) and Ondo US Dollar Yield Token (Usdy.) Usdy currently exceeds $ 589 million, while OUSG’s assets have $ 419 million.
Both OUSG and Usdy provide daily yield production by investing in the US Treasury Bill. Usdy provides an annual percentage yield of 4.35%, while OUSG offers 4.03%.
The price of Ondo may also be affected by Donald Trump’s investment of World Liberty Financial. Now Wlfi Keeps 342,000 ondo tokens, value of over $ 400,000. Ondo Trump’s opening was one of the top donors of the committee, which speculated that the project could be considered to be included in the US strategic crypto reserves.
Ondo Price Analysis
The daily chart suggests that ONDO Finance is a strong downward below with a wider market decline in recent months.
On the positive side, the coin has formed a falling wedge pattern, including two descending and convergence trendline. A rapid breakout usually occurs when both lines are near their confluence level.
Ondo Price has also created a cup and handle pattern, another popular continuity signal. The upper part of this pattern is $ 1.4825, while its depth is 65%. There, measuring this distance from the upper part of the cup increases by 113% from the current level, the Ondo price target at $ 2.4610.
