ONDO/USDT Price Increases by Well Over 5%

The ONDO/USDT market has rebounded upwards by 4.30% as of the time of writing. This was enough to place the token in the second position on the daily crypto top gainers list. The price chart suggests that price action has rebounded off a promising support level. Let’s examine the market in more detail below.

Ondo Statistics:

ONDO Price: $1.9360

Ondo Market Capitalization: $2.65B

ONDO Circulating Supply: 1.38B

Ondo Total Supply: 10B

ONDO CoinMarketCap Rank: 52

Key Price Levels:

Resistance: $2.000, $2.500, $3.000

Support: $1.900, $1.500, $1.000

ONDO/USDT Price Regains Bullish Traction

In recent times, ever since the Ondo token rebounded upward off the technical support level at the $0.6000 price level, volatility has been on the high side. Consequently, price action in the market had progressed strongly upwards. But about three sessions ago, price action rebounded downward for three sessions straight.

However, the ongoing session has appeared to portray a strong recovery, considering the size of the corresponding price candle. Also, it has appeared above all the Moving Average (MA) lines. Nevertheless, the Stochastic Relative Strength Index (RSI) lines can be seen still generally falling into the oversold region of the indicator.

Ondo Buyers Eye the $2.000 Ceiling

Price activity in the ONDO/USDT 4-hour market has continued upward for the second consecutive session in the 4-hour market. Here, the last price candle sits directly above the 50-day MA line. The mentioned price candle stays green while the Stochastic RSI lines continue to rise upwards following an upward crossover.

The lead line of the RSI seems far ahead of the lagging one, and as such, this suggests that the market is volatile, and this can assist in bullish progress at this point. Therefore, traders can anticipate that the price may at least hit the $2.000 mark, if not approaching the $2.200 mark.

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