Because the market witnesses a recent breeze of minor restoration, Ondo capitalizes on the newfound tailwinds. With a close to 10% surge previously 24 hours, Ondo is now buying and selling at a market value of $0.8885.
Reclaiming the $2.8 billion market cap, Ondo hints at a possible bounce again to the $1 milestone.
ONDO Worth Evaluation
Within the every day chart, the ONDO value development showcases a fast V-shaped reversal from an $0.75 psychological mark. With an intraday restoration of 6% yesterday, the bullish development continues, at the moment buying and selling at 0.8898.
At present buying and selling close to the 78.60% Fibonacci degree, priced at $0.90, ONDO marks an intraday rise of seven.36%. This marks two consecutive bullish candles after a bearish spree of 5 crimson candles.
Amid the short reversal, the MACD and sign strains are hinting at a possible bullish crossover. Nonetheless, as a result of prevailing downfall, the 50 and 200 EMA strains are near a loss of life cross occasion.
ONDO Worth Targets
Primarily based on the Fibonacci ranges, the restoration run in ONDO is prone to retest the 200 EMA line near the 67.80% Fibonacci degree. This highlights a value goal zone between $1.12 and $1.14.
On the flip aspect, in case of a post-retest reversal from the 78.60% Fibonacci degree, the altcoin is prone to witness an intense correction. This might lead to a pullback to the $0.59 essential help degree.
Analyst Alerts Rising Demand With New Addresses
Supporting the possibilities of a bullish restoration, Ali Martinez, a crypto analyst, highlights a community exercise surge on ONDO. As per the glassnode information within the tweet, the community has witnessed a large surge of 390% within the variety of new addresses.
New $ONDO addresses simply surged 390% in 24 hours, leaping from 935 to 4,559! pic.twitter.com/vAnrjiAplS
— Ali (@ali_charts) March 12, 2025
This has recorded a value surge from 935 to 4559. This rise within the variety of new addresses is probably going fueling the continued value surge with the brand new surge in demand.