Ondo (ONDO) Price Hits All Time High as OI Rises 10%
Ondo (ONDO) price has hit a new all-time high after a successive bull run in the last 24 hours. During this rally, ONDO price surged by over 10% and climbed to 2nd on CoinMarketCap list of top gainers. Ondo has been in a bullish rally since establishing support at the intra-day low of $1.22. This rally mirrors an uptrend experienced over the last 30 days, with the price soaring by over 74% from a monthly low of $0.7369. As of press time, ONDO was trading at $1.36, an all-time high and a 10.46% surge from the support level. This surge reflects a 1520% rise from the all-time low set 4 months ago on Jan 18th. Accompanying this surge is a rally in market capitalization and 24-hour trading volume by 9.50% and 12.15%, respectively, to $1,889,288,777 and $260,300,488. This rally is attributable to MANTRA’s announcement of launching a new savings vault backed by Ondo that uses the USDY token.
However, the Relative Strength Index (RSI) is in overbought territory, with a rating of 74, so ONDO may be overbought, which could lead to a potential pullback or price consolidation.Despite this overbought trend, the Chaikin Money Flow (CMF) motion in the positive region, with a rating of 0.19, suggests that money is flowing in the market, reflecting increasing buying pressure, which is a bullish signal.