ONDO/USDT Bulls Charge Off the 0.9000 Threshold

The Ondo token has appeared in the second position on today’s list of trending coins. The token has registered over 7% price growth in today’s trading activity. And while the ongoing session holds promise, downward forces seem to have introduced a notable bearish contraction.

Ondo Market Statistics

Current Price: $1.0111

Market Capitalization: $3.2B

Circulating Supply: 3.15B

Total Supply: 10B

CoinMarketCap Rank: 39

Key Price Levels

Resistance: $1.150, $1.350, $1.500

Support: $1.000, $0.900, $0.800

ONDO/USDT Bullish Glow Sees a Pushback

Bulls in the Ondo daily market have kept a commanding stance in the ongoing session. It all started when price action rebounded off the $0.9000 price level. Bullish momentum seems to have grown steadily up to the ongoing session.

However, today’s session has seen the most conspicuous gains while also facing a notable pushback. Nevertheless, price action remains above the 9-day Exponential Moving Average (EMA) line. At the same time, the lines of the Stochastic Relative Strength Index (SRSI) indicator have reached the overbought region. Still, since the SRSI lines remain poised upward and price action holds above the 9-day EMA curve, the bullish outlook remains solid.

Ondo Stays Afloat Despite Pushback

Looking at the ONDO/USDT market on the 4-hour chart gives one the opportunity to see how downward forces have acted. The last price candle on this chart is red with a moderate body size but remains at a notable distance above the 9-day EMA curve.

Meanwhile, the SRSI indicator lines can be seen to have recently delivered an upward crossover above the 50 mark. However, the downward retracement in the ongoing session has introduced a deflection toward a bearish crossover. That said, the lines of this indicator haven’t converged for a downward crossover yet, and as such, the market may proceed upward toward the $1.150 price level.

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