Ondo tests $0.3248 support as oversold conditions limit further selling

Traders Union
All News
Crypto
Ondo drops 7.21% to $0.3448 today

Highlights

Ondo Finance partnered with SBI Group to tokenize Japanese equities using JPYSC, expanding blockchain-based access to Japan's asset markets.
ONDO has seen a spike in daily active addresses and wallet registrations post-announcement, signaling strong user engagement despite ongoing price weakness.
ONDO/USD faces sustained downside momentum, trading below key moving averages with a projected range of $0.3248 to $0.3648 and a 75% probability of further declines.

User activity spikes as Japan deal fails to offset selling pressure

Ondo Finance announced a strategic partnership with Japan's SBI Group on July 16, 2026, to tokenize Japanese equities and settle transactions using the regulated yen-backed stablecoin JPYSC, according to Cryptobriefing. This collaboration, as highlighted by Marketsmedia, is set to expand distribution of Ondo’s tokenized products across SBI's broad financial network, improving access to Japanese assets using blockchain infrastructure. Ambcrypto reported a significant increase in ONDO’s daily active addresses and new wallet registrations following the partnership announcement, reflecting strong network interest, though price action has remained under broader selling pressure.

Mixed signals persist as oversold readings and seller dominance collide

On the hourly chart, ONDO/USD trades below both the MA-20 and MA-50 but remains above the MA-200. The daily Ichimoku Kijun sits at $0.3644, currently acting as immediate resistance. The Momentum signals are mixed: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) are neutral, while the Relative Strength Index (RSI) is deeply oversold at 28.38. The Stochastic RSI and Commodity Channel Index (CCI) are also in oversold territory, suggesting possible selling exhaustion. Bull/Bear Power indicates continued dominance by sellers intraday, with the Awesome Oscillator signaling strong sell momentum in alignment with the broader downtrend.

Downside risk dominates as range-bound trade persists

Over the next two to three trading days, ONDO/USD is expected to fluctuate within a volatility band of $0.3248 to $0.3648. There is a 25% probability of an upward move, while downside continuation holds a 75% probability. The baseline scenario anticipates consolidation inside this range. If the price breaks and closes above the $0.3644 resistance, a shift in momentum could follow, while a move below $0.3248 may accelerate further declines.

Anton Kharitonov, expert at Traders Union, sees ONDO under pressure despite positive partnership news. He notes that technical momentum is deeply negative, and oversold signals are not yet reversing broader selling. The recent spike in on-chain activity shows increased attention but is not enough to alter current price dynamics. "Base case is sideways action between $0.3248 and $0.3648, and I remain defensive unless price reclaims above $0.3644."

Previously it was reported that Ondo’s bullish momentum was underpinned by advances in asset tokenization and strong technical structure amid caution about near-term overbought conditions. The latest partnership with SBI Group and the resulting growth in on-chain activity add a strategic dimension, but with ONDO now facing a pronounced shift to oversold signals, traders should monitor for a potential reversal if the price can reclaim the $0.3644 resistance.

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.