Shock! Ondo (ONDO) price plunges 4.91%, market panic or bargain hunting opportunity?
After hitting an all-time high on June 3, the price of Ondo (ticker: ONDO) has fallen 4.91% in the past 24 hours. As of the time of writing, ONDO is priced at $1.21. The reason for the price drop is that holders took profits.
However, this is not the first time that the price of ONDO has dropped and then recovered. For this reason, we will conduct a short-term analysis of ONDO.
As of the time of writing, we see that 2,000 wallets purchased about 75 million ONDO tokens at an average purchase price of $1.20. On the other hand, 2,600 wallets purchased 36 million tokens at an average price of $1.23.
Despite buying more tokens at a lower price, the $1.23 cap could push the price of ONDO lower. This is because the number of wallets was higher at the time. If this happens, the near-term price prediction of ONDO could fall to $1.15.
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