Market sentiment towards ONDO has been relatively negative, with the number of daily active addresses declining significantly since July 5, reflecting reduced transaction volume and user engagement.
However, Bitcoin’s bullish trend may offset this negative sentiment, giving ONDO a more optimistic outlook.
Currently, both the Relative Strength Index (RSI) and the Chaikin Fund Flow (CMF) indicator are in neutral territory, indicating improving buying pressure and capital inflows, but not enough to drive significant upward momentum. 12-hour Strategy Understanding - Research Institute - The 599695450 chart shows that ONDO has not yet broken through $1, which implies that the market structure has not yet turned bullish.
If ONDO fails to break above $1, it may fall back to the $0.9 demand area, especially if Bitcoin struggles to climb back to $60,000 in the short term.
Conversely, a breakout above $1 would provide ONDO bulls with momentum for a 10% gain, targeting the range high of the descending triangle pattern.
