Date: Sun, Nov 17, 2024, 06:40 AM GMT
The cryptocurrency market has been riding a wave of optimism since Donald Trump’s victory in the U.S. elections on Nov 5. This event fueled a surge in Bitcoin (BTC), which hit a new all-time high of $93,474. Alongside Bitcoin’s rise, several altcoins have started to rally, with the Real World Assets (RWA) token category seeing significant attention.
Mantra (OM), a leading RWA token, has been a standout, surging over 100% in just the last week. However, the second-ranked RWA token, $ONDO, has been slower to join the bullish movement. Despite this, ONDO has still managed to gain 32% in the past 30 days and is currently trading around $0.97.
Bullish Signals for ONDO:
ONDO is showing some promising technical signals. The token has formed an ascending triangle, a chart pattern often seen before a price breakout. It’s currently testing a key resistance level of $1.00, which has been a point of struggle for the token in the past.
A similar breakout occurred in May 2024, when ONDO surged over 50% after breaking through resistance. With the current setup mirroring that earlier pattern, ONDO could potentially break past the $1.00 level, targeting the next resistance around $1.47—an increase of over 50% from its current price.
Could a Rally Be on the Horizon?
If ONDO follows through with a breakout, a significant rally could be on the cards. Investors will be watching closely to see if the token can sustain its bullish momentum and push toward higher resistance levels.
Get more updates at: coinsprobe.com
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
