- ONDO’s large transaction volume surged by 201% in the past 24 hours.
- The major liquidation areas were near $1.49 on the lower side and $1.55 on the upper side, with traders over-leveraged at these levels.
According to an analysis by AMBCrypto, transactions for Ondo Finance’s [ONDO] significantly increased by 201% over the past day, as observed by on-chain analytics firm IntoTheBlock.
Crypto fans have been buzzing about this data due to its surge in significant transaction volumes, which occurred after a well-received test of the crucial breakout level within a weekly time period.
Even with an increase in high-volume transactions, it seems that long-term investors are stockpiling the token, as suggested by data from Coinglass.
The data provided by Spot Inflow/Outflow indicates a substantial exit, or outflow, of approximately $5.4 million in ONDO tokens, as per the records from these exchanges.
In the world of digital currencies, an outflow refers to a situation where assets are transferred from trading platforms (exchanges) to personal wallets. This movement could suggest that some investors are stockpiling the currency, which increases demand and potentially boosts its value by creating buying pressure and fueling upward trend.
ONDO: What does the price prediction say?
Currently, ONDO is experiencing a decline in price following a surge of more than 22% within a single day.
Looking at the weekly scale, the token managed to revisit the breakout point and created a bullish Harami candle formation at a significant support zone.
Given the latest market trends, if ONDO continues to hold its value above $1.30, there’s a good chance it might surge by approximately 40%, potentially reaching an upper limit of $2.13 in the upcoming period.
At the moment, ONDO’s Relative Strength Index (RSI) stands at 61, indicating it’s not yet in the overbought territory, implying there could be room for further growth or upward movement.
Major liquidation levels
The primary points for the token’s margin call or selloff occurred around $1.49 on the lower end and $1.55 on the higher end, as per Coinglass. It seems that day traders held excessive borrowed capital at these price points.
Read Ondo Finance’s [ONDO] Price Prediction 2025–2026
Currently, ONDO is close to $1.52 at the point of this writing, and it has seen a mild decrease of approximately 1.2% over the past day.
Meanwhile, there was a significant increase in trading activity during that timeframe, with volumes rising by 21%. This suggests that more traders and investors were actively participating in the market.
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2025-01-08 01:11