Ondo (ONDO) price experiences significant movement, reaching its ATH after a bullish period in the last 24 hours. During the price rally, ONDO saw an increase of over 10% and ranked 2nd on CoinMarketCap’s top gainers list of the last 24 hours.
What is the ONDO Price?
ONDO started to rise after finding support at its lowest level of $1.22 in the last 24 hours. The price rally aligns with the price increase seen in the last 30 days. On the other hand, the price rose over 74% from its low level of $0.7369.
As of the time of writing, ONDO continues to trade at its all-time high. This level indicates a 10.46% increase from the support level, trading at $1.40687. The increase marks a 1520% rise from the all-time low seen about 4 months ago on January 18.
Meanwhile, the price increase also boosted the market cap and 24-hour trading volume. The market cap rose by 9.50% to $1.9 billion, while the 24-hour trading volume increased by 23.15% to surpass $280 million.
ONDO Comments
The data analysis of derivatives related to the ONDO price rally continues to reflect ONDO’s upward trend. ONDO’s derivative market volume increased by 9.47% to $377.47 million. Additionally, open interest (OI) increased by 10.26% to $250.07 million.
In the ONDOUSD price chart, the Bollinger bands expanded, indicating increased volatility. The middle and lower bands of the Bollinger bands are located at $1.40, $1.04, and $0.68838, respectively.
The candles on the charts contributing to the positive market outlook continue to trade near the upper Bollinger band, which is positioned above the middle band (20-day SMA) and supported by a continuous upward price movement.
Meanwhile, ONDO’s Relative Strength Index (RSI) is at 74, indicating an overbought region. Therefore, investors who may want to take profits due to ONDO being overbought could start selling, potentially triggering a price drop and consolidation.
Despite the overbought appearance in the market, the Chaikin Money Flow (CMF) – which shows the liquidity entering the market through ONDO – remains in the positive region with a value of 0.19, indicating that money is still entering the market. This can also be interpreted as continued buying.
