-7.27% for Ondo as missing shareholder benefits spark selling

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Ondo slides 7.27% after SpaceX launch

Highlights

Ondo has tokenized SpaceX common stock on major blockchains, offering on-chain trading tied to the company’s public market debut.
Ondo’s broader strategy includes ongoing tokenization of U.S. Treasury products and expansion into equities and perpetual futures, but token holders lack shareholder rights and dividends.
ONDO/USD faces strong near-term selling momentum, with key support at $0.3326 and high risk of a further downside within a $0.3326–$0.3707 range.

Asset expansion and limited rights as tokenized SpaceX offering launches

Ondo launched a tokenized version of SpaceX common stock on Solana, Ethereum, and BNB Chain, enabling blockchain-based trading and on-chain liquidity in conjunction with SpaceX's public market debut. This rollout, supported by the Ondo Global Markets platform, allows for seamless integration of traditional equities with blockchain technology and provides novel access to high-profile assets for digital investors. Additional recent executive appointments signal ongoing efforts to refine onchain portfolio management and expand the firm’s product suite, while the company's ongoing initiatives to tokenize U.S. Treasury products and broaden into stocks and perpetual futures indicate a strategy of asset class diversification. However, holders of these tokenized stocks do not gain shareholder rights or dividend eligibility, defining both the appeal and limitations of Ondo’s current offerings.

Oversold signals and weak trend as resistance holds

On the h1 timeframe, ONDO is positioned below both its MA-20 at $0.3611 and MA-50 at $0.3616, but remains above the long-term MA-200 at $0.3348. Immediate resistance is defined by the Ichimoku Kijun at $0.3626. Momentum indicators reflect a bearish backdrop: MACD remains in sell mode, ADX is neutral suggesting weak trend strength, and the Awesome Oscillator is also negative. RSI is at 31.31, with the Stoch RSI and CCI all in oversold territory. Bull/Bear Power (BBP) is in sell mode, pointing to seller dominance in session activity, and the price has pulled back sharply toward session lows, suggesting continued elevated volatility.

Sideways bias as downside risk overshadows rally prospects

For the next two to three trading days, ONDO is expected to consolidate within a typical volatility range from $0.3326 to $0.3707. Probabilities favor a further downward move, while the prospect of a significant rally is low. The baseline scenario calls for price stabilization and sideways action. A bullish reversal would require a breakout above the $0.3626 resistance, while further downward price action would be triggered by a drop below the $0.3326 support area.

Anton Kharitonov, expert at Traders Union, sees a cautious outlook for ONDO despite innovative product moves. He notes the token is under pressure technically with seller dominance and no clear bullish momentum as it trades below key moving averages. The lack of shareholder rights or dividends on new tokenized assets may limit wider investor appeal. "Until ONDO breaks above $0.3626, the setup remains fragile and further downside cannot be ruled out."

Earlier, analysts noted that Ondo was exhibiting positive momentum and strategic growth, aided by new leadership appointments and ongoing platform development. The current shift to bearish momentum and heightened volatility, even amid innovative tokenized asset launches, highlights the importance of monitoring support at $0.3326 as a potential inflection point for traders.

Source of Data: ONDO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.