Ondo: bearish technicals and oversold signals led to sharp 8.58% price drop

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Ondo slips 8.58% to $0.8176 today

Highlights

Ondo (ONDO) trades at $0.8176, remaining below the MA-20 ($0.8875), MA-50 ($0.9389), and MA-200 ($0.9057), indicating persistent bearish pressure across all timeframes.
Technical indicators are mixed, with MACD showing weakness, ADX suggesting upward support, and CCI confirming ONDO is in oversold territory, while intraday momentum signals increased short-term buying strength.
ONDO is forecast to trade in a $0.7677 to $0.8929 range over the next five sessions with a 75% probability of an upward move, but remains vulnerable to further declines if support at $0.7677 fails.

Bearish technicals persist as mixed momentum clouds short-term direction

The technical setup shows that ONDO remains below its MA-20, MA-50, and MA-200, underscoring a bearish trend in the short, medium, and long term. Dynamic support is noted at $0.6716 (Kijun), with immediate resistance near the MA-20 at $0.8875. While MACD momentum suggests lingering weakness, the ADX points to overall support for upward action. Oscillators send mixed signals—RSI is slightly bearish, Stoch RSI is neutral, and the CCI confirms oversold conditions. On an intraday basis, sellers retain some advantage per BBP, yet the Awesome Oscillator hints at increasing short-term buying strength; ONDO opened at $0.815 and is currently near the session’s high, with moderate volatility and resilience after the open.

Rangebound outlook likely as bullish breakout potential remains conditional

For the next five sessions, ONDO is expected to trade between $0.7677 and $0.8929, averaging near $0.8303. The probability of an upward move is around 75%, with the baseline forecast calling for rangebound trading within these levels. Should bullish momentum take hold, a break above $0.8875 could spark a test of the $0.89 mark. On the downside, a move below $0.7677 may result in additional selling pressure.

Anton Kharitonov, expert at Traders Union, views ONDO’s persistent trading below all key moving averages as a sign that selling pressure remains dominant across timeframes. He notes that while some oscillators hint at a possible short-term bounce, the overall technical picture stays bearish with limited support from sentiment or news flow. Kharitonov remains cautious, emphasizing scenario-based risk management for traders navigating the current setup. "Until ONDO decisively reclaims $0.8875, I remain defensive and see little justification for aggressive long exposure here."

Last time, we reported cautious sentiment lingering as institutional partnerships aimed to drive adoption. Previously, it was noted that crypto whales accumulating ONDO tokens for potential October gains contributed to increased market focus and institutional confidence.

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.